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Predictive Biosciences Raises $21.75M in Private Financing

NEW YORK (GenomeWeb News) – Predictive Biosciences has closed a Series B financing that has brought in $21.75 million in funding, the Lexington, Mass.-based company said today.
Predictive Bio is developing biomarker-based assays for a variety of cancers, with an initial focus on bladder cancer. The firm also is looking into developing tests for breast, ovarian, prostate, and colorectal cancers.
Predictive Bio said the funds would be used to complete current clinical validation studies and initiate multi-center clinical trials. It also said proceeds would fund efforts to open a CLIA-compliant lab to run diagnostic tests.
The financing round was led by New Enterprise Associates and included Kaiser Permanente Ventures, as well investors from its $10 million Series A round including Flybridge Capital Partners and Highland Capital Partners.
In conjunction with the most recent financing, NEA General Partner James Barrett has joined Predictive Bio’s board of directors, and Kaiser Permanente Ventures Senior Venture Manager Jordan Kramer has been named a board observer.

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