NEW YORK (GenomeWeb News) – Integrated Diagnostics today announced it has secured $10 million in a third tranche of its Series A financing round.
The tranche was triggered after the Seattle-based firm made "substantial progress in its diagnostic programs," it said.
The funds will be used to complete clinical development of its in vitro proteomic-based diagnostic programs to prepare the for a commercial launch. Also, funds will be used toward advancing the company's protein-catalyzed capture agents for use in in vivo molecular imaging and therapeutics.
The tranche, which completes Integrated Diagnostics Series A round, was led by InterWest Partners, which was joined by the Wellcome Trust and the Grand Duchy of Luxembourg.
The company was founded by Leroy Hood and launched in 2009 with $30 million in financing. Last month, it and Agilent Technologies partnered to develop multiplexed biomarker-based assays for the detection of diseases in the early stages.
The company also announced today the hiring of Donald Seaton as its CFO, and James Garner as its chief business officer.