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Cardio Test Developer Aviir Raises Additional $10M

NEW YORK (GenomeWeb News) – Irvine, Calif.-based Aviir announced yesterday that it has raised $10 million in a second tranche of a private financing round.

The firm, which is developing multiplex protein-based diagnostics tests for cardiovascular conditions, had already raised $10 million and expects to bring in a total of $30 million in the financing.

Proceeds from the financing will be used to fund the US launch of its MIRISK VP cardiac risk assessment technology and additional lab tests services provided through its Aviir Diagnostic Laboratories. The MIRISK VP technology measures the blood levels of seven proteins associated with the development of vulnerable plaque and then uses a complex algorithm to analyze those results and other known risk factors to determine an individual’s probability of experiencing a heart attack within the next five years, said Aviir.

The financing round was led by the Merck Global Health Innovation Fund, which was joined by Partners & Partners as an investor. The firm's other current investors, including Bay City Capital, Aberdare Ventures, and New Leaf Ventures, also participated in the round.