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Tethys Bioscience Nabs $25M in New Financing

This story has been updated from a previous version, which inadvertently omitted Aeris Capital as an investor.

NEW YORK (GenomeWeb News) – Tethys Bioscience has closed $25 million in Series D financing, which it plans to use to expand commercialization of its PreDx Diabetes Risk Score test.

The funding round was led by Aeris Capital, and included current investors MDV-Mohr Davidow Ventures, Kleiner Perkins Caulfield and Byers, and Intel Capital; and one new investor, Wasatch Advisors.

The firm said that the blood-based test will identify individuals who are at the highest risk of developing type 2 diabetes within five years.

Company CEO and Chairman Mickey Urdea said in a statement that the Tethys will use the capital to meet demand from primary care doctors through new commercialization strategies.

“To enhance the clinician’s experience and effectiveness with the PreDx DRS, we are also developing a diabetes risk-reduction initiative, which will help them to educate their high-risk patients about critical lifestyle and behavioral changes that may help prevent the development of diabetes,” Urdea said.

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