POC Medical Systems, Inc., a Livermore, Calif.-based developer of a portable breast cancer screening test, raised $ 21m in Series A funding.
This round was led by BioVentures Investors with participation from Sirius America Insurance Company, IFG Healthcare and MIA Investment Limited.
The company intends to use the funds for clinical beta testing and initial commercialization of its test.
Based on its Pandora CDx™ Microfluidics-based platform, POC Medical Systems is advancing MammoAlert™, a blood-based test designed to enable breast cancer screening broadly in regions such as India, where it will be launched initially.
The MammoAlert™ test generates a result in 15 minutes. The test employs a mobile device like a tablet that stores the data securely in the cloud, where it can then be shared remotely with doctors and healthcare systems. The test detects multiple cancer biomarkers from a drop of blood using advanced CD microfluidics based on a low cost microfluidic disk and then applies sophisticated algorithms to produce a result.
Led by Mr. Sanjeev Saxena, Chairman & CEO, POC Medical Systems was incubated at iGate in Livermore.