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The company is developing an ultra-rapid MDx platform based on electrochemical sensor technology that it anticipates launching later this year.
Personal Genomics says its platform will be able to sequence a human genome for less than $1,000.
Biodesix will use the investment to continue development of its blood-based molecular diagnostic technology platform and test menu.
The company's platform is a molecular barcoding and analysis system that works in conjunction with short-read sequencers to identify long-range genomic information.
The company, whose technology enables the selective amplification of mutant DNA, will use the financing to ramp up its commercialization work and build its product portfolio.
The firm will use the proceeds for sales and marketing, R&D, debt repayment, and other purposes.
The company raised $5 million in private financing and is borrowing $5 million.
The funds will go toward efforts to drive clinical adoption and further develop Assurex's GeneSight products.
The company previously said in an SEC document that it raised $16.1 million toward a targeted goal of $30 million.
The firm will develop companion and standalone diagnostic tools for Celiac disease as its immunotherapy Nexvax2 heads toward Phase II clinical trials.
Nature News writes that viral genomic surveillance in the US faces systemic issues.
President Joe Biden is seeking an increase in federal spending, including higher budgets for the National Institutes of Health and Centers for Disease Control and Prevention.
A small, early-stage trial of a combination therapy for brain cancer reports favorable responses in two patients, according to the Guardian.
In PLOS this week: sex-stratified genome-wide association study of chronic pain, sequencing data from Indigenous Mexican groups, and more.