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Exosome Diagnostics Raises $20M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Exosome Diagnostics has raised $20 million to further develop and commercialize its exosome-based diagnostics.

The company also said it is creating R&D and service operations in New York, where the company is based, and in Munich.

The financing round was led be NGN Capital and Forbion Capital Partners.

Exosome, formed in 2008, uses exosome technology licensed from Massachusetts General Hospital to test for cancer-specific genes in blood and urine. Exosomes are lipid-covered microvesicles shed by solid tumors into body fluids, and tumor exosomes contain nucleic acid sequences of a cancer's genetic make-up.

In a statement, Exosome said that it has demonstrated the ability to extract exosomes from blood and urine samples of cancer patients and detect key genes and gene mutations associated with a variety of cancers with high sensitivity and specificity.

The company also announced that it has incorporated Exosome Diagnostics in Munich, a wholly owned subsidiary that will serve as the company's European center for development and services.