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Arna Genomics Raises $3.5M In Series A Financing

NEW YORK – Arna Genomics said over the weekend that it has raised $3.5 million in a Series A funding round led by Xploration Capital.

The Wilmington, Delaware-based startup will use the funds for clinical validation trials in Europe, the US, and the Commonwealth of Independent States for its Arna Breast diagnostic test, which detects nucleic acid fragments in a patient's plasma sample. The firm also plans to expand operations to the Indian and Chinese markets.

Arna's liquid biopsy assay measures the circulating cell-free DNA in a breast cancer patient's plasma sample and plasma enzyme activity. The firm aims to apply its methods for early-stage cancer detection and monitoring patient response to therapy.

The company added that an unpublished proof-of-concept study conducted with Sechenov University has demonstrated that the test has accuracy of greater than 90 percent.