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Metabolomic Dx Raises €1.6M to Finish Development of Preeclampsia Test

NEW YORK (GenomeWeb) – Metabolomic Diagnostics today announced that it has raised €1.6 million ($2 million) in venture capital to complete development of PrePsia, a predictive diagnostic test for the early detection of preeclampsia during pregnancy. 

"Securing this new funding will allow Metabolomic Diagnostics to complete PrePsia in our laboratory and assign CE marking to bring the company to first revenues in 2017," CEO Charles Garvey said in a statement. 

The County Cork, Ireland-based company said that the money would also be used to commercialize metabolomic biomarker technology licensed from the Irish Centre for Fetal and Neonatal Translational Research.

Participants in the financing included SOSventures, Enterprise Equity, and Enterprise Ireland, as well as certain private investors. Metabolomic Diagnostics had also raised about €1.5 million in previous private financing rounds.