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Exosome Diagnostics Raises $5M

NEW YORK (GenomeWeb News) – Molecular diagnostics company Exosome Diagnostics has raised $5 million, it disclosed in a document filed with the US Securities and Exchange Commission last week.

The New York-based firm declined to comment, but in its amended Form D filed with the SEC it said that in total it is targeting $6 million in the offering. The type of securities offered is a mixture of debt; options, warrants or other rights to acquire another security; and security to be acquired upon exercise of an option, warrant, or other right to acquire security.

It said that two investors have invested in the offering, but did not identify them.

About three years ago, Exosome Dx raised $20 million.

The company is developing molecular diagnostic tests built on its exosome technology and directed at cancer and other diseases. The tests are for use as companion diagnostics and the monitoring of disease.

During the summer it and Life Technologies reached an agreement to use Applied Biosystems' 7500 Fast Dx Real-Time PCR for Exosome Dx's biofluid in vitro diagnostics program. In October the firm announced a supplier deal with Promega covering Exosome Dx's Urine Clinical Sample Concentrator Kit.

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