The proteomics-based diagnostics firm will use proceeds from the financing for continued commercial development, prospective clinical trials, and other purposes.
The core will serve as a center for receiving, qualifying, processing, and distributing biospecimens to the Clinical Proteomic Tumor Analysis Consortium.
Health Net's coverage of Biodesix's proteomic test for non-small cell lung cancer follows similar decisions last month by Aetna and Cigna.
The reverse stock split was done in order for BG Medicine to remain listed on Nasdaq, which had warned the firm in September of possible delisting action.
The company repurchased a total of 860,595 shares of its common stock, with the price based on a simple average of closing prices for a trailing 60-day period.
In the UK it initially will be offered through private clinics on a "self-pay" basis, while in the US it will be sold as a laboratory-developed test through Abcodia's CLIA lab.
The tests combine the company's second-generation proteomic ovarian cancer test OVA2 with patient ultrasound results and symptom data.
Researchers working onbreast, colorectal, and ovarian cancer highlighted their work, making the case for proteogenomic approaches to cancer research.
Product revenues, comprised of OVA1 sales, were also flat at $1.5 million, as were licensing revenues at $113,000.
The company cited as likely applications development of tests for guiding therapy in late-stage patients and support of drug development efforts.
As it tries to kick-start stalled revenue growth, the company must work to convince doctors the test offers benefits beyond standard of care.
The MRM-MS-based method combines use of conventional stable isotope-labeled peptide standards with a series of endogenous protein standards.
The group's effort looked at the development steps required for successful implementation of MRM-MS assays as well as promising technical advances.
The firm is now clinically validating a mass spec-based test for quantifying native insulin and its therapeutic analogs and another test for type 2 diabetes.
Offering information on sources of variability within individuals and across populations, the study holds potentially valuable insights for biomarker development.
The company hopes to launch the test sometime this year after completing CLIA certification of its clinical laboratory and securing reimbursement.
With the additional funding, Sera aims to develop new tests for predicting the risk of preterm birth in women in developing countries, the company said.
The agreement gives Caprion, which did significant development work on the test, exclusive rights to market and commercialize Xpresys Lung inCanada.
The 141-sample study found the test could identify benign lesions in lung cancer patients with a negative predictive value of between 84 percent and 98 percent.
The approach, commonly used for genomics research, could prove effective for shotgun proteomics, as well, according to a paper byErasmusUniversityresearchers.
The World Health Organization has announced the members of its gene-editing committee, according to NPR.
DARPA is working on developing algorithms that gauge the credibility of research findings, Wired reports.
The American Society of Breast Surgeons recommends all women diagnosed with breast cancer be offered genetic testing, the Washington Post says.
In Science this week: comparison of modern, historical rabbit exomes uncovers parallel evolution after myxoma virus exposure; and more.