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GeneCentric Raises $5M

NEW YORK (GenomeWeb) – GeneCentric Diagnostics said in a document filed with the US Securities and Exchange Commission on Friday that it has raised $5 million in equity.

In an email to GenomeWeb Daily News, GeneCentric CEO Myla Lai-Goldman said the financing is the closing of the second tranche of the company's Series A financing round, and proceeds will go toward the continued development of its lead product called the Lung Subtype Platform. The company has raised $5.25 million to date, she said.

Based in Durham, NC, GeneCentric was launched in 2011 with funding from Hatteras Venture Partners. The company's technology is based on research carried out in the laboratories of Neil Hayes and Chuck Perou at the Lineberger Comprehensive Cancer Center at the University of North Carolina School of Medicine, according to Pharmacogenomics Reporter.

The Lung Subtype Platform is licensed to Laboratory Corporation of America Holdings and is available through its Integrated Oncology business as the HistoPlus Lung Cancer test. Lai-Goldman is the former chief medical officer and chief scientific officer of LabCorp.

In addition to the Lung Subtype Platform for stratifying lung cancer patients into subtypes, GeneCentric's other platform technology is Hypoxia Signature for identifying patients who respond to anti-angiogenesis therapies.

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