The company will use the money to develop liquid biopsy versions of its solid tumor BRAF and KRAS diagnostics as part of a larger research collaboration.
The group has licensed the clamp method, as well as earlier technology developments, to Xagenic, which is working to commercialize it in various diagnostic areas.
The test helps to identify metastatic colorectal cancer patients for whom treatment with Erbitux (cetuximab) or Vectibix (panitumumab) may be effective because their tumors carry no KRAS mutations.
The draft document, which includes recommendations on which molecular tests labs should perform, on what samples, and with what analytical specifications, is available for comment until April 22.
The investment bank said that expected launches within the next two years for quantitative assays would bring Trovagene into larger and more profitable markets.
The clinical collaboration will evaluate Trovagene's technology in clinical studies for detecting genetic mutations associated with targeted drug resistance.
The company, whose technology enables the selective amplification of mutant DNA, will use the financing to ramp up its commercialization work and build its product portfolio.
A coronavirus serology test garners Emergency Use Authorization from the US Food and Drug Administration, but the Los Angeles Times asks: how will tests like that be used?
In Science this week: increased CD8 T cell density and increased IFN-gamma response may indicate metastatic prostate cancer patients who will respond to immune checkpoint blockade therapy.
