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ACT Genomics Raises $12.5M in Series B Financing Round

NEW YORK (GenomeWeb) – ACT Genomics announced today that it has raised $12.5 million in a Series B financing round.

The Taiwanese company current sells two molecular diagnostic cancer assays including ACTDrug, which uses next-generation sequencing to identify genomic alterations responsible for tumor pathogenesis and determine patient response to treatment; and ACTOnco+, which uses NGS to determine the mutational status of solid tumors and guide treatment selection.

ACT Genomics said that it will use the proceeds of the Series B round to increase capacity to support its expansion in Japan, Taiwan, Singapore, Malaysia, Thailand, and Hong Kong, as well as to bolster commercial channels to drive further global expansion.

The company conducted a Series A round in February 2015, and raised $8 million. Those funds had been earmarked to support further investment in the firm's molecular diagnostic assays and expansions of its sales, marketing, and medical teams.