NEW YORK (GenomeWeb News) – MircoRNA test developer MiraDx has received a $1 million investment through the Eli Whitney Fund of Connecticut Innovations, a technology-focused economic development group, CI said today.
For the firm, which is based in New Haven, Conn., the $1 million investment is part of its Series A round of financing that will add up to a total of $4 million, CI said.
MiraDX is using miRNA discoveries licensed from Yale University to develop gene-based diagnostics. The company has established its own CLIA-certified lab and will conduct testing for its clients.
MiraDx is launching its first test, PreOvar, to screen for the KRAS-variant, a genetic marker, which appears in 25 to 30 percent of women diagnosed with invasive epithelial ovarian cancer. Among women with ovarian cancer from hereditary breast and ovarian cancer families who are negative for other unknown markers, around 60 percent have the KRAS variant.
“There is a real need for tools that can help women who have a family history of ovarian cancer to better understanding their risk, MiraDx President Stephen Miller said in a statement.
“Our hope is that these tests will help save the lives of many women by aiding in earlier diagnoses and better management of ovarian caner,” CI’s President and Executive Director Peter Longo added.