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Predictive Biosciences Raises $25M in Series C Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Predictive Biosciences today said it has completed a Series C financing round, raising $25 million.

Proceeds will be used to complete multi-center clinical trials for Predictive's CertNDx bladder cancer assay and to launch the test through the company's CLIA laboratories, it said in a statement.

CertNDx uses Predictive's Multi-Analyte Diagnostic Readout, or MADR, approach, which combines DNA and protein biomarkers into one assay.

Proceeds will also be used to help fund the commercial and operational growth of OncoDiagnostic Laboratory, including the expansion of ODL's facilities to support its growing national customer base, the company said. Predictive, based in Lexington, Ky., acquired ODL in January for an undisclosed amount.

The Series C round was led by new investor ProQuest Investments. Jay Moorin, general partner with ProQuest has joined Predictive's board, as a result.

Existing investors Flybridge Capital Partners, Highland Capital Partners, Kaiser Permanente Ventures, and New Enterprise Associates also participated in the round.

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