Bioarray Genetics, a Farmington, CT-based personalized medicine startup, received $4m in Series B equity financing.
Backers included Quark Venture and GF Securities through their Global Health Science Fund and Connecticut Innovations.
Led by CEO and Founder Marcia Fournier, Bioarray is a molecular diagnostics company developing predictive cancer treatment test technology. The platform, consisting of unique genes and proprietary algorithms, provides patient-specific information to determine the optimal course of treatment.
The company intends to use the funds to bring their first product, BA100, to clinicians and conduct R&D on other tests in its pipeline, including those focused on treatments for metastatic breast and colon cancers.
BA100 is a breast cancer diagnostic test that provides actionable information about patient response to the standard of care chemotherapy treatment. It is able to identify the population of triple negative breast cancer patients that have the worst survival rates and would benefit from more aggressive treatment.
Bioarray’s test isolates RNA biomarkers from the initial tumor biopsy, and in combination with the company’s proprietary algorithms, can predict the patient’s response prior to treatment.
Currently, this test is intended for patients with stage 1, 2, and 3 non-metastatic breast cancer, and is administered immediately after diagnosis before the doctor decides on the patient’s treatment plan.
The company is housed at UConn’s Technology Incubation Program (TIP) in Farmington.