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Nuclea Biotechnologies Raises $1.1M Toward $2.5M Financing Round

NEW YORK (GenomeWeb News) – Nuclea Biotechnologies has raised $1.1 million toward a targeted $2.5 million financing round.

The company disclosed the raise in a document filed with the US Securities and Exchange Commission this week. A spokesman told GenomeWeb Daily News that the Pittsfield, Mass.-based firm plans to close the $2.5 million round at the end of next month. He said that Nuclea would not be disclosing who the investors are or how the funds from the financing would be used until then.

Nuclea develops diagnostic assays based on fatty acid synthase, a biomarker for tumors. In addition to disease outcome, the company is developing tests for predicting therapeutic response.

Almost a year ago, it began a Series C financing round aimed at $10 million to further its regulatory submissions and for marketing activities. The company raised $5 million in connection to that round during the summer, and said at the time that it would commence the second half of the round shortly.

The spokesman today could not say whether the current $2.5 million round is part of that effort.

Since the summer, Nuclea has acquired intellectual property surrounding tissue microarrays, which it plans to use to expand its product offerings. It also opened a new bioinformatics and imaging center, as GWDN sister publication, BioInform previously reported.