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Kew Group Raises $16.8 Million in Financing Round

NEW YORK – In a notice filed with the US Securities and Exchange Commission last week, Cambridge, Mass.-based Kew Group reported that it has raised $16.8 million in a financing round.

In a filing with the SEC in February, Kew reported that it had raised $16.1 million toward a $30 million goal. It is unclear whether the $16.8 million financing is related to the targeted $30 million financing. The company did not respond to a request for comment.

Kew indicated in the most recent document that it offered securities in the form of equity, and said that 40 investors have participated in the financing so far without identifying them. The company did not say how it planned to use the funds.

A few months ago, the genomic testing services firm inked a deal with Cardinal Health Specialty Solutions to promote its next-generation sequencing-based testing service, called CancerPlex. The test, which Kew launched last year, analyzes more than 400 cancer genes for abnormalities that are associated with patients' variable responses to cancer drugs.

The Cardinal Health Specialty Solutions group is under the aegis of Cardinal Health, which along with the Boylston Street Group, participated in the private funding round for Kew in February.

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