NEW YORK (GenomeWeb News) – Molecular diagnostics developer AltheaDx said today that it has reeled in $6 million in a Series A round of equity financing led by Telegraph Hill Partners of San Francisco.
AltheaDx will use the funds to support its partnerships with biopharmaceutical firms focused on developing companion diagnostics and biomarkers for use in making therapeutics safer, AltheaDx Co-founder and Co-CEO Magda Marquet said in a statement.
The San Diego-based firm noted that it currently has six development programs underway with biopharma partners.
"The need for biomarkers and companion diagnostics has never been more urgent as the biopharma industry is concentrating significant resources on the development of targeted therapeutics, specifically in oncology," AltheaDx Co-founder and Co-CEO Francois Ferré added. "As more and more therapeutics focus on a specific gene abnormality, it becomes essential to know which patient carries it to enhance the chance of a positive therapeutic response."
AltheaDx offers end-to-end biomarker discovery and development services. It offers RNA expression profiling using Affymetrix microarrays, PCR-based quantification, RNA-QC assays to pre-qualify samples, and DNA genotyping to identify SNPs.
It also has proprietary biomarker panels for use in diagnosis and prognosis of prostate cancer, diagnosis of childhood cancer, and custom gene panels for targeted oncology therapeutics.