Precision Therapeutics Raises $35M

Precision Therapeutics, a Pittsburgh, Pennsylvania-based life science company that develops innovative markers to help guide treatment decisions based on the biological processes of each individual’s cancer, has recently raised $35m in venture capital funding.
The round was led by the venture and growth affiliate of Bain Capital, with participation from existing investors including Adams Capital Management, Quaker BioVentures, Longitude Capital, Birchmere Ventures, and TVM Capital.
The funding will be used to expand the distribution efforts for the company’s core product, ChemoFx®, and to conduct research, development and commercialization activities for novel proteomic and genomic markers for cancer therapy.
In conjunction with the funding, Jeffrey Crisan, Managing Director of Bain Capital Ventures, has joined the Precision Therapeutics’ board of directors.

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