Veravas, Inc., a Charleston, S.C.-based diagnostic company, raised $4m in funding.
Private investors participated in the round through the issuance of convertible notes.
The funds are being used to expand research and development staff, build product inventory, and continue focused B2B commercialization activities.
Led by Carroll E. Streetman Jr., CEO, Veravas develops proprietary sample pretreatment products and new diagnostic tests to provide laboratories with high-value solutions for the accurate diagnoses of some of the world’s most devastating diseases. The company is also building new strategic collaborative partnerships to bring other diagnostic applications to the clinical in vitro diagnostics market. Its proprietary sample preparation technology uses nanomagnetic beads that can be added to patient test samples. This core technology enables capture of specific substances for removal and to concentrate and quantify those factors for improved measurement of complex biomarkers.