NEW YORK (GenomeWeb News) — Allegro Diagnostics, which plans to commercialize molecular diagnostic products for lung cancer, has raised $4 million in a Series A financing.
The funding round was led by Kodiak Venture Partners and included investments by Catalyst Health Ventures and Boston University.
The startup company’s first commercial product will be a gene-expression based test for early-stage lung cancer.
The product will be based on technology developed by researchers Jerome Brody and Avrum Spira at the Boston University School of Medicine’s Pulmonary Center.
The company also said that Brody has been named chief scientific officer and that Kodiak Ventures’ Andrey Zarur and Catalyst Health’s Josh Phillips have joined the company’s board of directors.