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Agendia Nabs $23M Series E Financing

NEW YORK (GenomeWeb News) – Dutch molecular diagnostics firm Agendia said today that it has raised $23 million in a Series E investment round.

The financing was led by an undisclosed family investment firm that provided approximately half of the funds, Agendia said. In addition, two independent entrepreneurs participated with an investment of US $1 million each, while the remaining capital was raised through Agendia's existing investor base.

"The success of this financing round was aided by MammaPrint's increasing US demand, as well as growing reimbursement from private US payors," Bernhard Sixt, president and CEO of Agendia, said in a statement. "The proceeds will be used to accelerate the commercialization of MammaPrint in the US market."

Agendia received US Food and Drug Administration clearance two years ago for MammaPrint, its array-based breast cancer diagnostic test. It has since been working with reference centers in the US to help drive adoption of the test.

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