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Paradigm Diagnostics Closes $15M Series B Round

NEW YORK (GenomeWeb) – Paradigm Diagnostics said today that it has closed a $15 million Series B fundraising, which has been ongoing since 2017. In conjunction with the closing, the firm has added Mara Aspinall, managing director of BlueStone Venture Partners, to its board of directors.

Joining founding investors Mesa Verde Venture Partners, New Science Ventures, and Prairie Ventures, the round also received funding from Gore Range Ventures, Tech Coast Angels' San Diego, OSF HealthCare Ventures, and BlueStone, Paradigm said.

The funds raised will help support the continued commercialization of the company's flagship product, the Paradigm Cancer Diagnostic, a tumor tissue sequencing test to guide the use precision cancer therapies.

Formerly President and CEO of Ventana Medical Systems, now Roche Tissue Diagnostics, new board member Aspinall brings more than 20 years of industry experience in biomedical diagnostics, personalized medicine, and digital health, including several other director roles for firms like Blue Cross Blue Shield of Arizona, OraSure Technologies, and Allscripts.

John Friedman, managing director of Gore Range Capital, has also joined as a board observer, Paradigm added.