The Swedish molecular diagnostics firm will use the proceeds, in part, to fund the planned launch of its Immray PanCan-d assay for detecting pancreatic cancer.
The company entered a securities purchase agreement through which it has raised gross proceeds of $650,000 and paid down a portion of the company's debt.
The company — which was cofounded by David Liu, Feng Zhang, and Keith Joung — has licensed base editing technology from Harvard and the Broad Institute.
The firm said that its technology enables the detection of rare DNA variants with high accuracy to enable liquid biopsy diagnosis and treatments for multiple diseases.
Bloomberg reports that Brainstorm Cell Therapeutics plans to offer a treatment it is developing under the "right to try" law for hundreds of thousands of dollars.
