Armune BioScience, a Kalamazoo, MI-based medical diagnostics company, closed a $5m Series A funding round.
Backers include Grand Angels Venture Fund II.
The company intends to use the funds to grow commercial operations and research and development initiatives geared towards new tests.
Led by David Esposito, President and CEO, Armune BioScience develops and commercializes proprietary technology exclusively licensed from the University of Michigan for diagnostic and prognostic tests for prostate, lung and breast cancers. It is the developer of Apifiny, a cancer specific, non-PSA blood test to assess the risk for the presence of prostate cancer.
The company, which also has a research and commercial laboratory in Ann Arbor, MI, is in the process of raising a $25m Series B round.