Biosystems International (BSI) SAS, an Evry, France-based biotechnology company specializing in the development of monoclonal antibody based diagnostics for cancer, has closed a €2.1m ($2.7m) financing round.
Following the discovery of novel biomarkers for lung cancer, the company launched the development of a new blood test for the detection of lung cancer in May, 2009. This new funds, which were provided by the company’s existing investors, will be used to complete development of the test and bring it to the market in 2011.
Commenting on the financing, Jean-Pierre Tirouflet, Chief Executive Officer of Biosystems International, said: “The renewed commitment by our shareholders demonstrates their confidence in our lung cancer program. These funds will help to accelerate our entry to market”.