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Johns Hopkins Spinout PGDx Raises $4.3M

NEW YORK (GenomeWeb) – Personal Genome Diagnostics has raised $4.3 million in private financing, the firm said in a document filed with the US Securities and Exchange Commission on Wednesday. 

A spokesperson for the firm said that the financing was in the form of a convertible note funding and is part of a larger Series A round currently underway. No further details were disclosed. 

The Baltimore-based Johns Hopkins University spinout did not disclose the identities of the investors, but said in its SEC document that there were 18. It did not say how proceeds from the funding will be used. 

PGDx offers next-generation sequencing-based cancer diagnostic panels, including a clinical targeted sequencing panel, and research-based sequencing services for tissue- and blood-based tumor profiling. Officials from the firm told GenomeWeb earlier this year that it plans to take its products through US Food and Drug Administration clearance. 

Last year, PGDx raised $2.8 million in a private financing round.