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Biosystems International Raises $2.7M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Parisian protein biomarker firm Biosystems International said today it has closed on a funding round raising €2.1 million ($2.7 million).

The funds will be used to complete development of the company's lung cancer diagnostic test and to bring it to market in 2011, BSI said in a statement, adding that the round was raised primarily by its principle investors.

The test is for early-stage diagnosis of lung cancer and is based on novel biomarkers and corresponding antibodies discovered using BSI's proprietary proteomics platform. According to the firm, the antibodies have a sensitivity and specificity of greater than 80 percent following testing on "several clinical cohorts" totaling more than 700 cancer patients and controls.

BSI previously announced it had raised €3.5 million in venture capital funds managed by pharmaceutical firm SGAM A1 and private investors in 2008 to support development of lung, colon, and breast cancer diagnostic tests. In addition to diagnostic tests, BSI develops antibody arrays for plasma proteome profiling.

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