NEW YORK (GenomeWeb News) – Protein biomarker diagnostics firm Astute Medical today announced the completion of a Series C financing round that raised $40.4 million.
The funding will go toward the commercialization of Astute's first product and to expand its research, development, and validation of biomarker-based laboratory tests.
The round was led by MPM Capital and new investor Kaiser Permanente Ventures. Other participants included De Novo Ventures, Delphi Ventures, Domain Associates, and Johnson & Johnson Development.
In March 2011 the San Diego-based company raised $13 million in an extension of a Series B round that previously brought in $26.5 million. Astute took in $6.2 million in a Series A round in 2008.
The firm identifies and validates protein biomarkers for the development of diagnostic tests. Its focus is on community- and hospital-acquired acute conditions and current areas of interest include abdominal pain, acute coronary syndromes, cerebrovascular injury, kidney injury, and sepsis.