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Protein-biomarker Dx Firm Astute Medical Raises $26.5M

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This story originally ran on May 10.

Protein-biomarker diagnostic firm Astute Medical today announced it has secured $26.5 million in Series B financing.

The money will be used to advance R&D aimed at identifying and validating protein biomarkers for diagnostic purposes and to develop and commercialize products based on the biomarkers, the San Diego firm said in a statement.

Venture capital firms Domain Associates and Delphi Ventures led this round of financing. Johnson & Johnson and De Novo Ventures also participated.

"With this financing, the resources are in place to conduct clinical studies that will move us closer to commercialization of promising diagnostic products currently in development," said Christopher Hibberd, CEO of the company. He declined further comment.

In its statement, the company said that the focus of its research is hospital- and community-acquired conditions that require rapid diagnosis and risk assessment. The areas of interest include abdominal pain, acute coronary syndromes, cerebrovascular injury, kidney injury, and sepsis.

Hibberd and Paul McPherson, both formerly of Biosite, founded Astute in 2007. Two years, ago the company said it had raised $6.25 million in an initial financing round led by De Novo Ventures.

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