NEW YORK (GenomeWeb News) – Molecular diagnostics firm QuanDx announced on Thursday the closing of its Series B financing round raising $1.25 million.
Proceeds will go toward further development of its platform technology and its commercial program in oncology, genetic diseases, and infectious diseases. The Menlo Park, Calif.-based company did not disclose the names of the investors.
Founded in 2010, QuanDx is developing clinical diagnostic assays based on its proprietary Yin-Yang probe technology. According to the company, the probes, made up of two complementary oligonucleotides of different lengths that are labeled, "can specifically detect nucleic acid in a homogeneous format."
QuanDx said that its first commercial product will be its Q-Fusion Leukemia Fusion Gene Screening kit, which uses RT-qPCR to detect 32 fusion genes simultaneously. Other products in the company's pipeline include kits for detecting different numbers of fusion genes in leukemia patients.