Agendia Raises Double Digit $ Millions in Series A Round for Microarray-Based Cancer Tests

This story has been updated from an earlier version to include more precise funding information from Agendia.

NEW YORK, GenomeWeb News (March 30) - Dutch cancer diagnostics company Agendia has raised "double digit" millions of dollars in a Series A financing round, the company told GenomeWeb News today.

Agendia will use the funding to market its microarray-based breast cancer test, which it launched earlier this year, and to develop similar gene expression-based tests for other cancers.

Investors included Gilde Investment Management, which led the round, as well as Global Life Science Ventures and Axa Private Equity Funds.

Agendia, based in Amsterdam, the Netherlands, was founded in 2003 by scientists from the Netherlands Cancer Institute who developed a microarray-based test to predict the aggressiveness of breast cancer tumors.

Bas van der Baan, Agendia's director of business development, told GenomeWeb News that the company is seeking to in-license additional expression profiles for cancer and other diseases. Also, Agendia plans to launch new expression-based tests within 12 months.