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CancerGuide Diagnostics Raises $10.5M, Inks Deal with LabCorp

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – CancerGuide Diagnostics, a molecular diagnostics startup based in Durham, NC, has raised $10.5 million through the first tranche of a private financing and has inked a collaboration with Laboratory Corporation of America.

The firm, which is led by former LabCorp CSO and CMO Myla Lai-Goldman, is actively seeking partnerships with startups that need help getting their molecular oncology diagnostic products to market. It also offers companion diagnostic test development and tumor biology profiling services to the pharmaceutical and biotechnology industries.

The financing round was co-led by Hatteras Venture Partners and Intersouth Partners. LabCorp also took an undisclosed stake in the company.

Under the agreement with LabCorp, the firms will collaborate in the development and commercialization of CancerGuide's molecular oncology assays. Further details of the alliance were not disclosed.

"Through our unique partnership model, CancerGuide will provide companion diagnostic development services to pharmaceutical and biotechnology companies to maximize the efficiency and effectiveness of the market entry strategies," CancerGuide CEO Lai-Goldman said in a statement.

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