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Exagen Diagnostics Raises $5M

NEW YORK (GenomeWeb News) – Exagen Diagnostics this week said in a regulatory filing that it raised a little more than $5 million in an equity financing round.

A spokesperson for the Albuquerque, NM-based firm declined to comment on the raise. In its document filed with the US Securities and Exchange Commission, Exagen did not disclose the investors or say how the proceeds would be used.

According to Exagen's website, it uses a technology dubbed Coperna to identify and validate small sets of genomic biomarkers for use in diagnostic tests run out of its CLIA laboratory in Vista, Calif. Coperna is a computational engine that identifies markers across "the spectrum of genomic data types," Exagen said, including high-density gene expression and SNP arrays.

A year ago, it received State of New York approval for its Avise SLE diagnostic test called SLE-Systemic Lupus Erythematosus. In September 2012, the company raised $5.3 million in a financing round.