Additional US$8.8 Million Financing for Biodesix

By Marc Castro

Apr 12, 2013 11:30 AM EDT

The molecular diagnostic company, Biodesix Inc, has added US$8.8 million funding through another round of sales of its preferred shares in Series D funding round.

According to a Biodesix spokesperson, existing stockholders of the company provided the funds but no specific details were given. The additional funding will be allocated to the ongoing development of the company's technology base. Part of the funding will also used for the increasing of sales and marketing workforce as a support for its first product VeriStrat. VeriStrat is a serum protein test that will help doctors guide therapy for patients with advanced non-small cell lung cancer (NSCLC).

Biodesix is improving the development of groundbreaking products for personalizing medicine. It also provides doctors with diagnostic tests for the early detection of diseases providing greater accuracy leading to improved therapies and better patient recovery. In addition, the firm discovers, develops and sells multivariate protein diagnostic that is based on the patient/users' condition which will provide oncologists with data to help them select treatment for advance lung cancer patients.

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