Tethys Bioscience Raises $33M in Venture Capital and Debt Financing

Tethys Bioscience, Inc., an Emeryville, California-based cardiometabolic diagnostics company that creates and commercializes biomarker-based blood tests to identify patients at high risk of developing type 2 diabetes, has raised $33m, comprising of venture capital and debt financing.
Participants in the $23m venture financing included new investors Greenspring Associates, Inc. (formerly Montagu Newhall Associates, Inc.), Paul Capital Investments, as well as exisiting investors.
It brings the total amount raised in the company’s Series D round to $48m.
The $10m working capital loan was provided by Oxford Finance Corporation and Silicon Valley Bank.

The new capital will support expanded commercialization of the Tethys PreDx™ Diabetes Risk Score (DRS), a multimarker blood test that enables accurate identification of patients who have a high risk of developing type 2 diabetes within five years and facilitates identification of the 10-20% of individuals at the highest, near-term risk, for whom intervention may be most beneficial. 



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