Exosome Diagnostics, Inc., the developer of a revolutionary liquid biopsy platform that enables non-invasive diagnosis of serious diseases, aiming to reduce or eliminate the need for tissue biopsies, today announced the final close of its $60 million Series B financing. Participating investors in the Series B round included Forbion Capital Partners, NGN Capital, and CD Ventures, as well as new investors, Qiagen, Arcus Ventures, Tiger Management and Blue Ridge Capital.
“We are pleased to successfully complete our Series B financing,” said John Boyce, President and Chief Executive Officer of Exosome Diagnostics. “Our proprietary technology platform and exosomal expertise has made Exosome Diagnostics a leader in developing biofluid-based molecular diagnostics with performance superior to that of cell free DNA platforms alone. With our financial resources and commercial, development and regulatory teams in place, we are poised to launch the first ever combined RNA plus DNA liquid biopsy based commercial diagnostics tests, as well as potential companion diagnostic programs with pharma, to fully exploit the value of our robust, sensitive, liquid biopsy based approach.”
Exosome Diagnostics expects to use the funds to support the growth of its commercial diagnostics, regulatory, and companion diagnostics divisions, as well as the development of potential new diagnostic tests outside of oncology, such as in neurodegenerative diseases, and expand the development of its protein biomarker programs. These divisions and technology differentiators, such as its protein biomarker interrogation capabilities, will further distinguish Exosome Diagnostics as the industry leader in the liquid biopsy space.
“I am very pleased that Exosome Diagnostics has been able to close such a substantial funding round and bring in highly-reputed new investors to invest alongside our current investors, Forbion, NGN, and, CD Ventures,” said Kapil Dhingra, Chairman of the Board of Directors of Exosome Diagnostics. “We believe the quality of the investment syndicate confirms the enormous progress made by Exosome Diagnostics in bringing exosome-based diagnostic tests to the market and the potential of the opportunities that lie ahead of us.”
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