NEW YORK, Oct. 28 (GenomeWeb News) - The Molecular Profiling Institute, the commercial arm of the Translational Genomic Institute, secured $7.5 million in capital from AmeriPath, Affymetrix, and Gen-Probe, TGen said today.
The funding, obtained through Series B round, will pay for additional molecular tests in breast and prostate cancers. The company will also develop assays through clinical trials targeting patients who best respond to targeted cancer therapies.
Molecular Profiling is a reference laboratory specializing in commercial applications of TGen's research projects and International Genomics Consortium's tissue banking and analysis capabilities. The company has an exclusive license to provide MammaPrintR 70 gene breast cancer prognostic in the United States.
AmeriPath currently provides Molecular Profiling's advanced tests to patients. Gen-Probe will also collaborate with Molecular Profiling to validate and commercialize its investigational PCA3 test for diagnosing prostate cancer.