NEW YORK – Liquid biopsy startup OncoCell MDx announced today that it has raised $22.2 million in a Series B financing round.
Royal Oak, Michigan-based OncoCell MDx will use the funding to support development and commercialization of its pan-disease diagnostic testing platform. The firm anticipates launching a blood test for detecting and grading aggressive prostate cancer next year.
The financing round was led by Savitr Capital, with participation from existing investors. OncoCell MDx noted that it has raised more than $30 million since it was founded at Harvard Medical School in 2013.
"In a relatively short time, we have built a database of over 2,000 patient subjects analyzed with RNA-Seq and identified unique immunogenomic signatures that can discriminate healthy patients from those with indolent versus aggressive disease," OncoCell MDx CEO and President Mark McDonough said in a statement. "In prostate cancer, we've developed a blood test to enable improved staging and determine if a patient can safely forego invasive surgery or radiation therapy."