Paradigm Diagnostics, a Phoenix, AZ-based developer of cancer diagnostic tests, raised $7m in the first closing of the Series B financing.
The round was led by Mesa Verde Venture Partners. In conjunction with the funding, Dr. Carey Ng, a Managing Director of Mesa Verde, joined the board of Paradigm.
The company intends to use the funds to build out its commercial team and establish research collaborations.
Led by David Mallery, President and CEO, Paradigm has developed PCDx, a clinical-grade NGS-based test designed to provide physicians and patients with a targeted, personalized approach to cancer treatment by identifying the underlying genomic and proteomic alterations of a tumors DNA, RNA & protein.
The test interrogates the most relevant genomic targets at over 5,000x average depth of coverage with 72 therapeutic associations.
Results are typically delivered in 4-5 business days.