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MDx Firm Provista Diagnostics Brings in $6M in Series A Financing

NEW YORK (GenomeWeb News) – Molecular diagnostics company Provista Diagnostics said today that it closed on $6 million in a Series A preferred financing round.

During the summer, the company raised $7.5 million in the round, bringing the total raised in the A round to $13.5 million, a company official said.

Included in the amount announced today is $1 million in additional subscriptions that the board of the Scottsdale, Ariz.-based firm agreed to accept as the financing was oversubscribed. Proceeds will go toward prospective clinical trails for Provista's dtectDx Breast, a protein biomarker-based cancer diagnostic test.

In January, the company told GenomeWeb Daily News sister publication ProteoMonitor that it was launching the test and could submit a 510(k) application to the US Food and Drug Administration for the test this year.

Proceeds will also be used to expand the product pipeline and for general corporate purposes, Provista said. Investors in the round included new and existing investors, though the company did not elaborate.

Provista develops molecular diagnostics for cancers that affect women, including breast, endometrial, and ovarian cancer.