NEW YORK (GenomeWeb News) – San Francisco molecular diagnostics firm MLC Dx has raised almost $6 million in a private financing, it disclosed in a document filed with the US Securities and Exchange Commission this week.
The amount raised is part of an offering that seeks to raise a total of $9.7 million, according to the company's filing, which also stated that the offering comprised of equity, options, warrants, and other rights to acquire another security.
MLC Dx did not say how the funds would be used but said it is not connected to a merger, acquisition, or other business combination transaction. The company is led by CEO Thomas Willis. Malek Faham is the company's chief scientific officer. Willis is a founder and former CEO of ParAllele Bioscience, while Faham was director of research at ParAllele and also previously served as VP of oncology technology research at Affymetrix.
At the time of publication of this article, Willis had not responded to requests for comment.
One of the participants in the round was MDV Mohr Davidow Ventures.
MLC Dx was formed in 2008, it said in its SEC document. It currently has an application on file with the US Patent & Trademark Office covering a technology for identifying biomarkers of autoimmune disease and other diseases using DNA sequencing.
According to the patent application, the technology involves sequencing individual amplified molecules to detect quantitative changes in clonal expansion. In one embodiment of the invention, a method is provided for determining a profile of recombined DNA sequences in T-cells and/or B-cells.
"The method can comprise steps including isolating samples from a subject, one or more rounds of nucleic acid amplification, spatially isolating individual nucleic acids, and sequencing nucleic acids," the application states.