Blood test Maker Biodesix Raises $12M, Readies for Product Launch
Michael Davidson, January 12, 2015
Boulder, CO-based medical diagnostic company Biodesix announced lately it has raised $ 12 million to help launch a new, as but unannounced product line and to proceed promoting its blood take a look at that oncologists can use to information lung most cancers therapy.
the money comes from Biodesix’s current investors and extends the series E round the company opened in late 2013. Biodesix now has raised $ 27 million in the round, bringing the overall fairness raised to $ 92 million.
Biodesix is the maker of VeriStrat, a blood take a look at that can be used all over the treatment of advanced non-small cell lung cancer. The take a look at is a serum protein test docs can use to make a decision whether or not to deal with patients with a drug referred to as erlotinib (Tarceva), which is bought by means of Genentech and Astellas Pharma, or to rely on single-agent chemotherapy.
The check monitors for patients who wouldn’t have epidermal boom factor receptor (EGFR) mutations and who will not be candidates for platinum-based totally chemotherapy or who have tried it with unsuccessful outcomes.
Biodesix at the moment is testing the clinical utility of VeriStrat in different solid tumors, including colorectal and pancreatic cancers.
VeriStrat is Biodesix’s major product, and the corporate commenced ramping up its gross sales and advertising push in 2013 after raising an $ 8.8 million sequence D round. That effort continued into 2014 and used to be augmented by cash Biodesix raised in its subsequent series E round and from a $ 20 million debt facility.
part of that cash also used to be set aside for added analysis and scientific development. In an interview remaining January when the first installment of the spherical was once introduced, CEO David Brunel said some cash would be used to “notably increase our investment in new product discovery and building.”
on the time, Brunel declined to provide small print about the doable new merchandise except testing had been accomplished. the corporate’s site says it’s working on assessments used to treat degenerative diseases.
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