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Precipio Diagnostics Raises $1.8M

NEW YORK (GenomeWeb News) – Precipio Diagnostics has raised $1.8 million in a Series B financing round, Connecticut Innovations, the lead investor in the round, said today.

Along with CI, which invested $750,000 in the round through its Eli Whitney Fund, Ironwood Capital, Enhanced Capital, Kuzari Capital, and individual investors participated in the financing.

Based in New Haven, Conn., Precipio provides pathology services, with a focus on cancer diagnostics. It began operations about a year-and-a-half ago and has exclusive deals with Yale School of Medicine and Yale-New Haven Hospital to analyze patients samples and report on their findings. It also licenses technologies from Yale that include a tumor profiling test suite and a prognostic biomarker for ovarian cancer.

Among the tests offered by Precipio are those based on PCR, cytogenetics, fluorescent in situ hybridization, and other technologies.