Biodynamics, Inc. , a molecular diagnostics company, today announced the completion of $26. 8M round of funding
Biological Dynamics is announcing $26 8M Series C Financing of CfDNA assay for response to oncol diagnosis
Tweet this one
The financing round, consisting of a combination of investment in Series C and convertible debt, was led by a large institutional investor linked to a major university. New and existing investors, including Heritage Group, Alexandria Venture Investment and Irwin Jacobs, co-founder of Qualcomm, joined the round. Funding proceeds will be used to advance regulatory clearance for the lead oncology diagnostic program of the company, the TR(ACE)TM assay, and for general working capital purposes.
Biological Dynamics has pioneered the use of alternative current electrokinetics (ACE) technology in molecular diagnostics. The company’s ACE lab-on-chip (LOC) platform isolates nanoparticles from high-conductance physiological solutions such as whole blood, plasma and serum directly without dilution and with minimal hand-on time.
The direct-to-analytical approach allows the company to develop minimally invasive and simple-to-use diagnostic tests that detect cell-free DNA, exosomes, and other cellular debris from 250uL in less than 30 minutes. The first product of the company, the TR(ACE)TM assay, uses the platform to assess oncology treatment response.
‘We are grateful for the enthusiastic response from our new institutional investor and continued support from our existing investors,’ said Raj Krishnan, CEO of Biological Dynamics. ‘Treatment Response Monitoring (TRM) is a key part of patient care. We believe that TR(ACE)TM will address many limitations of existing TRM toolsets, enabling physicians and patients to navigate cancer care more clearly. The new funding will help us implement our regulatory strategy and bring TR(ACE)TM to the clinic. ”
The global community spends more than $100B annually on oncology drugs alone. Oncologists typically have a short (12-18 months) chemo-tolerability window during which they can make informed decisions as to whether a patient should be switched to another therapy. It is therefore essential for physicians to be able to distinguish between beneficial and non-beneficial patients early in the treatment process. The goal of Biological Dynamics is to bring TR(ACE)TM to the clinic and thus enable physicians, patients and payers to navigate cancer care more effectively, based on a clear understanding of whether cancer treatment – regardless of cost or complexity – works for a specific patient.
About the Biodynamics
Biological Dynamics is a private molecular diagnostic company located in San Diego. Our proprietary technology offers a novel, fast and cost-effective lab-on-chip platform that isolates nanoparticles from high conductivity physiological solutions. Nanoparticles based on blood have been shown to be clinically relevant in a number of therapeutic areas, including oncology, transplantation and reproductive medicine.
The first product of the company, the TR(ACE)TM assay, will use the oncology treatment response monitoring platform. TR(ACE)TM was not cleared or approved by the U Oh, S Food and Drug Administration or any foreign regulatory agency and currently only for research purposes
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Biological%20Dynamics/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
