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Metamark Genetics Nabs $10M in Financing

NEW YORK (GenomeWeb) – Metamark Genetics today said that it has secured $10 million in financing to further expand its clinical testing products and services in the US and abroad. 

The new funding, the company added, will allow it to complete the development of other urologic assay products. Metamark also announced that Shawn Marcell has resigned as president and CEO of the firm to pursue other opportunities. He has been replaced by Kenneth Weg, a Metamark co-founder and current chairman of the board of directors. 

Privately held Metamark is based in Cambridge, Massachusetts and develops prognostic and diagnostic tests aimed at cancer. Earlier this year, it launched the ProMark, a proteomic classifier of biopsied prostate tissue for assessing whether an early-stage prostate tumor is aggressive or indolent. Performed at Metamark's CLIA-certified laboratory, the test can help a physician decide whether a cancer needs to be treated aggressively or monitored.