Personal Genome Diagnostics, Inc., a Baltimore, Maryland-based developer of tissue-based and liquid biopsy technologies for cancer genomics, to receive up to $42.0m in financing.
Innovatus Capital Partners is to provide the financing agreement.
The company intends to use the funds to advance its regulated in vitro diagnostic (IVD) genome testing technologies.
Founded in 2010 by Luis Diaz and Victor Velculescu, two researchers from Johns Hopkins University, and led by Douglas Ward, CEO, PGDx specializes in high-throughput, next-generation sequencing and proprietary algorithms to identify alterations in complex cancer genomes.
The company has a diversified business model supported by its proprietary technology portfolio, bioinformatics system and comprehensive genetic library.