DiaCarta, a Richmond, Calif.-based precision molecular diagnostics company, completed a $45.0M Series B funding round.
The second closing was led by Fortune Fountain Capital (FFC) and was also subscribed to by Good Health Capital (GHC).
The company intends to use the funds to:
– set up global clinical study programs for non-Invasive Early Cancer detection to include Recurrence and Monitoring indications;
– launch ColoScape™, a sensitive in vitro diagnostic assay for the detection of colorectal cancer in liquid biopsy and tissue samples;
– expand product development pipeline to include a range of gene mutation and fusion panels using core technology platforms in DNA low frequency mutation detection; and a sensitive next generation of multiplexing HPV (Human papillomavirus) genotyping E6/E7 mRNA test, etc;
– extend its CLIA & OptiSeq™ Next Generation Sequencing offerings, and
– strengthen core IP position and applications for FDA and CFDA certifications for relevant tests and commercial team and relevant support roles.
Led by Aiguo (Adam) Zhang, Ph.D., Founder and CEO, DiaCarta focuses on genomic innovation through detection and amplification technologies. The company, which has an ISO 13485-certified facility used to develop, manufacture and market a range of cancer research and IVD products, specializes in genomic testing for biomarkers and offers clinical sample testing services in a CLIA-certified laboratory.
The novel QClamp® Xeno-Nucleic Acid (XNA™) clamping technology has solved the interference bottleneck of wild-type DNA in gene mutation detection and has enhanced the sensitivity and specificity in the detection process, especially in the liquid biopsy field.
The technology can be widely used in quantitative PCR (qPCR), gene chip, nanotechnology and all generations of NGS platforms and is underpinned by over 80 patents.