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NexDx Raises $2.1M in Series B Financing

NEW YORK (GenomeWeb News) – Start-up molecular diagnostics firm NexDx said today it has completed its Series B financing round, bringing in $2.1 million.

The round was led by founding investor City Hill Ventures. Silicon Valley Bank also is providing a $500,000 capital term loan to the San Diego-based company. The funding will be used to support continued R&D and further NexDx's lead diagnostic test for rheumatoid arthritis into analytical and clinical validation.

NexDx was founded last summer and is developing biomarkers and tests for diagnostic and therapeutic applications targeting autoimmune diseases. It reached a deal with the University of California, San Diego earlier this year to develop and commercialize epigenetic biomarkers targeting RA. Its platform is called Methylome Discovery, which identifies biologically relevant biomarkers through advanced statistical algorithms.

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