Predictive Biosciences completes $25m round
Predictive Biosciences announced the completion of a $25 million Series C round of growth capital financing.
The Lexington company describes itself as a commercial stage, fully-integrated developer of novel molecular diagnostic cancer assays and a provider of anatomic pathology laboratory products and services. To date, the company has raised $56.75 million.
"New investor ProQuest Investments led the round, joined by all current investors: Flybridge Capital Partners, Highland Capital Partners, Kaiser Permanente Ventures, and New Enterprise Associates," Predictive Biosciences said in a press release. "In conjunction with ProQuest's investment, general partner Jay Moorin joins Predictive Biosciences' board of directors."
Proceeds from C financing will be used to complete multi-center clinical trials for Predictive's CertNDxbladder cancer assay and support its commercial launch through the company's laboratories, the release added. The proceeds will also help fund lab expansion and commercial and operational growth of the company's anatomic pathology and molecular diagnostics lab.