NEW YORK (GenomeWeb News) – Molecular diagnostics firm Transplant Genomics has raised $2.8 million toward a targeted $3 million in a private offering, the company said in a document filed with the US Securities and Exchange Commission on Friday.
The firm declined to identify the investors in the round, but a spokesperson said that the funds will be used to commercialize its first product, a test for improving the management of kidney transplant recipients.
The company is developing tests to detect "early signs of graft injury, distinguish between actionable causes, and enable optimization of therapy," she said. Transplant Genomics added on its website that it is taking an unbiased approach, rather than a hypothesis-driven strategy, in developing its tests, which are anticipated to complement existing immunohistological analysis.
Its pipeline "includes diagnostic and predictive tests for kidney and liver graft dysfunction, the use of multiple sample types and technology platforms, companion diagnostics for immunosuppressants and immune status tests," the firm said.
According to its SEC document, the $2.8 million raise was composed of debt, and options, warrants, and other rights to acquire other securities.