Molecular diagnostics company, Biological Dynamics, Inc., has announced that it has completed a $26.8M round of financing.
The round included both Series C investment and convertible debt and was reportedly led by an institutional investor associated with a major university. Both new and existing investors joined in as well, including Heritage Group, Alexandria Venture Investment, and Qualcomm co-founder, Irwin Jacobs.
The funding will be primarily dedicated toward securing regulatory clearance for the company’s oncology diagnostic program TR(ACE) assay.
Biological Dynamics’ alternating current electrokinetics (ACE) technology has been the company’s most prominent development in the field. Its ACE lab-on-chip (LOC) platform eliminates the need for dilution as it isolates nanoparticles from high conductance physiological solutions such as whole blood, plasma, and serum.
“We are grateful for the enthusiastic response from our new institutional investor and the continued support from our existing ones,” said Raj Krishnan, CEO of Biological Dynamics, according to Business Wire. “Treatment response monitoring (TRM) is a key piece of patient care. We believe TR(ACE)TM will resolve many limitations of existing TRM toolsets, enabling doctors and patients to navigate cancer care with greater clarity. The new funding will help us to execute on our regulatory strategy and to bring TR(ACE)TM to the clinic.”
Photo: Screenshot via Biological Dynamics
