OncoCell MDx raises $22.2m for liquid biopsy immunogenomics platform
OncoCell MDx, a Michigan-based immugenomics platform company, which is focused on developing noninvasive blood-based diagnostic tests, has secured $22.2 million in a Series B financing round.
Savitr Capital led the funding round, which also saw participation from the existing investors of OncoCell MDx.
Andrew Midler – Managing Member at Savitr said: “OncoCell is harnessing the power of the immune system and leveraging their proprietary immunogenomics technology to diagnose and stage disease early when there is the greatest opportunity for cure.”
Till date, the immugenomics platform company has raked in over $30 million to support its idea of detecting and staging cancer and other diseases simultaneously through a single blood sample.
The new funding will further strengthen the company’s balance sheet and will aid the ongoing development and commercialization of its diagnostic testing platform. For the year 2020, OncoCell MDx intends to launch a blood test for the detection and grading of aggressive prostate cancer.
Mark McDonough, President and CEO of OncoCell MDx said: “We are developing and commercializing novel noninvasive tests that provide accurate diagnostic information quickly to physicians and their patients to help optimize patient treatment and improve patient outcomes.
“In a relatively short time, we have built a database of over 2,000 patient subjects analyzed with RNA-Seq and identified unique immunogenomic signatures that can discriminate healthy patients from those with indolent versus aggressive disease.”