Tangen Biosciences, Inc., a Branford, Conn.-based molecular diagnostic company, closed a $9m Series A equity funding.
The round was led by Connecticut Innovations (CI), with participation from current and new stockholders, including VC23, Axiom, and Leading Edge Ventures.
The company intends to use the funds to accelerate its innovative platform TangenDx™ to the clinic for two infectious disease tests.
Led by CEO, Richard C. Birkmeyer, PhD, Tangen Biosciences is advancing, TangenDx, a novel isothermal nucleic acid detection platform that enables molecular diagnostic technology to move out of traditional laboratories by providing portable, and rapid diagnostic capabilities for a variety of applications.
The company’s management team also includes Keith Kardos, PhD, acting VP of Clinical Affairs, and Anne Cavanaugh, Director of Finance. Keith has over 25 years of experience managing R&D programs.
In anticipation of a 2020 product launch, Tangen Biosciences will be relocating its office to a new 16,200 square foot facility located in Branford, CT in August 2019.