NEW YORK (GenomeWeb News) – Biodesix has closed on the first of two tranches of a financing round targeting $20 million, a company spokesman confirmed today.
The Broomfield, Colo.-based companion diagnostics firm declined to provide details about the tranches, but in a document filed with the US Securities and Exchange Commission, Biodesix said that to date, it has raised $10 million in the round. The offering is in the form of equity.
In an e-mail to GenomeWeb Daily News, the spokesman said the round is a Series D financing, and proceeds will be used to support commercialization of its VeriStrat proteomic test to guide physicians treating patients with non-small cell lung cancer.
The funds will also support collaborations with biotechnology and pharmaceutical companies, he added. In January, a company official told GWDN that Biodesix would pursue collaborations with pharma firms to increase adoption of the test.
Participants in the round include existing investors.
The current funding follows a Series C financing round that the company completed in November that raised $7.1 million to further develop the VeriStrat test.
Biodesix plans to pursue clearance from the US Food and Drug Administration for the test, which is performed in Biodesix's CLIA laboratory. In March VeriStrat received certification from the New York State Department of Health, making it available in all 50 states.