NEW YORK (GenomeWeb News) – Biodesix today said that it has closed an $8.3 million Series E round of private financing.
The Boulder, Colo.-based molecular diagnostics firm said that new funds accounted for $4.3 million of the financing round, while the remaining $4 million came from the conversion of a convertible note. It said that all of the funds came from existing shareholders in the firm.
Biodesix plans to use the funding to support ongoing development of its technology platform and to expand sales and marketing efforts for its first product, the VeriStrat proteomic biomarker test, which is intended to help physicians guide therapy for patients with advanced non-small cell lung cancer.
In June the firm announced that it had secured Medicare coverage for the VeriStrat test.