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Pathwork Diagnostics Closes on $30M Series C Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Molecular diagnostics firm Pathwork Diagnostics today announced it has closed its $30 million Series C financing.

The round was led by Alta Partners and included existing investors Abingworth, Advent Venture Partners, Novus Ventures, Prospect Venture Partners, and Venrock. David Mack, a director at Alta Partners, has joined the board of Pathwork, the Redwood City, Calif., company said in a statement.

According to Pathwork CEO Deborah Neff, the round "provides the resources to support our commercial activities and expand our product offerings."

The company offers its Tissue of Origin Test for identifying the source of cancers that are difficult to classify. The test, which received FDA clearance in June, works on formalin-fixed paraffin embedded tissue and increases an oncologists' confidence in their choice of treatment, Pathwork said.

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