Exosome Diagnostics, Inc., a New York-based developer of minimally-invasive molecular diagnostics, has raised $20m in equity funding.
The round was co-led by NGN Capital and Forbion Capital Partners.
The new capital will enable the company to further develop and commercialize a series of innovative body fluid based oncology diagnostics through its proprietary, exosome based technology platform.
Exosome based molecular diagnostics allow for minimally invasive testing of cancer specific genes from standard blood and urine samples. This permits improved disease stratification and monitoring patient response through a course of treatment, leading to more precise understanding of drug efficacy and disease recurrence.
The company is establishing R&D and service operations in New York and Munich.
In conjunction with this financing round, the company incorporated Exosome Diagnostics GmbH, which is a wholly owned subsidiary of Exosome Diagnostics, Inc. and will serve as the European center for development and services.