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QuanDx Raises $3M in Series B2 Financing Round

NEW YORK (GenomeWeb) – Biotechnology firm QuanDx announced today it has raised $3 million in a second Series B financing round.

The San Francisco-based company, which is developing and commercializing molecular diagnostic tests for personalized medicine, will use the funds for continued development of a proprietary platform as well as its commercial program of oncology, genetic disease, and infectious disease tests.

The firm raised $1.25 million in its first Series B round in 2014.

"The successful closing of this second Series B financing continues to show the confidence our investors have for our proprietary technology and products as well as our continuing progress," QuanDx CEO Matthew Lei said in a statement. "This will now pave the way for the QuanDx team to greatly expand our R&D, marketing, and sales network.”

QuanDx and Xiamen, China-based Zeesan Biotech have partnered in the past to commercialize CE-IVD marked tests for leukemia fusion genes and high-risk human papillomavirus genotyping which will be distributed by QuanDx in Europe.