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Exosome Diagnostics Raises $17.6M in Series B Round

NEW YORK(GenomeWeb) – Exosome Diagnostics said today that it has raised $17.6 million in a second Series B financing round.

Combined with funds from a first round, the firm said it has raised a total of $44.7 million in its Series B overall.

Participating investors in the second round included Forbion Capital Partners, NGN Capital, Arcus Ventures, Tiger Management, and CD Ventures, the company said.

The funds will support commercial launch of several of the company's liquid biopsy cancer tests in 2015, as well as the development of novel exosome-based diagnostics for neurodegenerative disease. Assays planned for launch this year include two blood-based lung cancer tests detecting the presence of ALK and T790M mutations respectively, and a urine-based prostate cancer test.

Exosome also plans to launch a liquid biopsy solid tumor panel during 2015, initially only as a research tool, but later also as an LDT out of its CLIA lab. The panel will target 26 cancer-associated genes and approximately 1,000 mutations in relevant pathways implicated in lung, colon, and breast cancers.

In 2016, the company also anticipates launching a second iteration of this panel, expanded to detect mutations in 88 cancer-associated genes.