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ImmunArray Lands $10M in Private Financing

NEW YORK (GenomeWeb) – Molecular diagnostics firm ImmunArray announced that it has received a $10 million Series B investment from private investment firm Exigent Capital.

Other details of the financing were not disclosed.

The firm, which is based in Israel and Virginia, markets blood-based tests based on its iChip antibody-detecting microarray technology. So far, it has developed a six-biomarker panel for ruling out systemic lupus erythematosus and is developing tests for traumatic brain injury and immuno-oncology. The iChip platform can print proteins and peptides, short sequences of nucleotides and DNA, as well as cell surface receptors, cytokines, chemokines, and even lipid or carbohydrate-based molecules.

The funding will help the firm "accelerate and expand our commercial infrastructure, widen our reach into lupus-related products, and broaden our work into other autoimmune diseases," said CEO Donna Edmonds in a statement, adding that the money would help the firm move toward commercializing its brain injury tests.