NEW YORK (GenomeWeb News) – Nuclea Biotechnologies today announced the closing of a financing round that raised $6.4 million.
The funding includes $4 million in new capital and the conversion of $2.4 million in outstanding notes into preferred stock, the Pittsfield, Mass.-based firm said.
In August GenomeWeb Daily News reported the company had closed on a Series B round that raised $4.7 million. The $6.4 million reported today includes the earlier amount, a company spokesman said.
The funding will be used to support regulatory approval of its fatty acid synthase assay, including clinical trials, as well as facility upgrades, new hires, and general operations. Nuclea CEO Patrick Muraca said in August that the company planned to submit its fatty acid synthase assay for approval from the US Food and Drug Administration by the end of September.
It is unclear whether the company has yet made its submission.