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Biodesix Closes on $20M Series D Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Biodesix has closed on a $20 million Series D financing round, the company announced yesterday.

The funds will go toward commercialization of its VeriStrat test for non-small cell lung cancer, for which the company plans to pursue clearance from the US Food and Drug Administration. Ongoing collaborations with biotechnology and pharmaceutical firms interested in using diagnostic tests to identify appropriate patients for targeted cancer therapies will also be supported with the funds, Biodesix said.

"This new investment will allow Biodesix to broaden and accelerate commercialization activities for VeriStrat, including expanding our studies of VeriStrat’s utility in other solid tumors and with new drug combinations that can significantly improve outcomes for cancer patients," CEO David Brunel said in a statement.

The round was led by existing investors, which Biodesix called "a small group of industry insiders."

Biodesix disclosed the round in a document filed with the US Securities and Exchange Commission last week, and a company spokesman told GenomeWeb Daily News that it had closed on the first of two tranches of the round.

In November, Biodesix completed a Series C financing round that raised $7.1 million.

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