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MDxHealth

The firms will use the grant to discover and validate tumor markers that may be predictive of tumor progression into the muscle in developing invasive-stage bladder cancer.

Biovest is an investment firm led by Innogenetics Co-founder and Chairman Rudi Mariën.

MDxHealth said its current cash position and newly raised funds will help it expand its presence in the US by opening a new CLIA lab and hiring a sales force.

Pairings: Apr 6, 2011

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Hany Massarany, Christopher Gleeson, Paul Ross, Jonathan Epstein, James Herman, Gerrit Meijer, Eric Wallen

The amount raised from the private placement of new shares exceeds the company's target of at least €6 million announced on Monday.

Net proceeds from the offering, which is targeting at least $8.5 million, will be used to hasten product development, to create a CLIA laboratory, and to hire a sales and marketing team in the US.

According to the company's earnings statement, MDxHealth's product and service revenues nearly doubled – from €1 million in 2009 to €2 million in 2010 – due to several companion diagnostics deals and biomarker licensing agreements inked with major drug companies.

The firm's grant revenues declined but were offset by a 91 percent increase in revenues from products and services.

In its companion diagnostics development program for an investigational PARP inhibitor oncologic, Pfizer is pursuing methylation-specific biomarkers rather than BRCA gene mutations to help personalize the drug.

MDxHealth will use its DNA methylation platform to identify and develop biomarkers that can predict patient response to a PARP inhibitor under development by Newcastle University, Cancer Research Technology, and Pfizer.

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The New York City Police Department will be removing DNA profiles from a local database if they are from people who were never convicted of a crime, the New York Times reports.

Science reports that accusations of sexual assault against a microbiome researcher has also led to questions about his academic certifications.

Wired reports that researchers are analyzing the DNA fish leave behind in water to study their populations.

In Science this week: comprehensive cellular map of the human thymus, evidence of admixture between the ancestors of Neanderthals and Denisovan and a 'superarchaic' population.