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Astute Medical Raises $13M for Protein Biomarker Dx Development

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Protein biomarker firm Astute Medical said this week that it has secured $13 million in financing.

The funding is an extension of a $26.5 million Series B round completed in May 2010 (PM 5/14/2010). The company also raised $6.2 million in a Series A round in 2008.

The $13 million financing included existing investors Domain Associates, Delphi Ventures, De Novo Ventures, and Johnson & Johnson Development.

Astute said it will use the money to advance and expand research, development, and validation of protein biomarker-based laboratory tests. According to the company, its focus is hospital- and community-acquired conditions that require rapid diagnosis and risk assessment.

In November, it received $244,479 through the Qualifying Therapeutic Discovery Project Program to be used for the development of a biomarker panel for the early detection of acute kidney injury (PM 11/5/2010).

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