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NextGxDx Raises $1M

NEW YORK (GenomeWeb News) – Genetic testing information firm NextGxDx announced on Tuesday that is has raised $1 million in a private round of financing.

NextGxDx closed on the angel-funded, convertible note round and met its capital goal with the Series A2 financing, the Nashville, Tenn.-based company said.

NextGxDx will use the financing to increase its brand awareness, grow its healthcare professional user base, expand its laboratory relationships, and add staff. The firm said the round attracted new investors along with existing shareholders who participated in the raise, but did not identify them.

"The angel investor community has embraced the NextGxDx mission of adding transparency and access to information in the confusing world of genetic testing," NextGxDx CEO Mark Harris said in a statement. "As hospitals and healthcare professionals have responded, the company is experiencing a surge in momentum that includes the addition of physician research organizations and high-quality genetic reference labs as partners in this endeavor."

In the fall, NextGxDx launched its online platform that allows healthcare professionals to access listings of genetic tests from CLIA-certified laboratories, order them, and view the test results, as GenomeWeb Daily News' sister publication Pharmacogenomics Reporter reported at the time.

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