NEW YORK (GenomeWeb News) – Integrated Diagnostics, which is using genomics and proteomics technologies to develop molecular diagnostics tests, announced today it has raised $10 million in a second tranche of its Series A financing round.
Investors in the round include new investor, BioTechCube Luxembourg, a newly formed investment company, and existing investors InterWest Partners and Wellcome Trust, a spokesman said.
The money will be used to further develop, validate, and commercialize Integrated's proteomic diagnostics programs, the company said in a statement.
Integrated also said that BioTechCube now holds all the investment of Dievini Hopp Biotech Holding, one of the investors in a $30 million first tranche of the Series A round that launched the company in September. Dievini's participation was part of a collaboration with the Grand Duchy of Luxembourg, which had said it expected to eventually become part of Integrated's investor group.
Patrizia Luchetta, chair of BioTechCube, has now joined Integrated's board replacing Friedrich von Bohlen, managing partner of Dievini, Integrated said.
Based in Seattle, Integrated is developing tests based on work by Lee Hood at the Institute of Systems Biology investigating organ-specific proteins that may be indicative of disease. Integrated hopes to translate the biomarkers into blood-based tests for a broad range of diseases. Last fall, the company said that it anticipates putting its first test on the market in about four years.
Hood's work at ISB resulted in a collaboration with the University of Luxembourg. That, in turn, led to a public-private partnership between Luxembourg and ISB. Integrated is, in part, a product of that partnership, GWDN's sister publication, ProteoMonitor, reported in the fall.