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Exosome Diagnostics Raises USD17.6m: Funds Will Support Commercial Launch of Multiple Liquid Biopsy Cancer Tests
2 September 2015 - - US-based molecular diagnostics developer Exosome Diagnostics, Inc. has closed an additional USD 17.6m round of financing in an extension of its series B financing, bringing the total series B financing raise to USD 44.7m, the company said on Wednesday. Participating investors in this second series B round included Forbion Capital Partners, NGN Capital, Arcus Ventures, Tiger Management and CD Ventures. Exosome Diagnostics said it expects to use the second round series B funds to support a number of commercial and development efforts, including the 2015 commercial launch of two blood-based lung cancer liquid biopsies and a urine-based prostate cancer liquid biopsy. Through detecting the presence of ALK and T790M mutations, respectively, the company's lung cancer tests are designed to help clinicians match patients to appropriate targeted therapies or clinical trials and avoid therapies to which patients are not likely to respond. The prostate cancer liquid biopsy test is designed to reduce unnecessary biopsies by accurately predicting which patients do not have high-grade prostate cancer. These liquid biopsies will launch as laboratory developed tests in the company's certified CLIA laboratory. The funds will also support the 2015 commercial launch of solid tumor panel. The solid tumor panel that will launch this year enables rapid identification of patients who are eligible for clinical trials, as well as longitudinal and serial molecular monitoring throughout the clinical trial process. This panel targets 26 of the most important genes and approximately 1000 associated mutations in the most significant pathways implicated in lung, colon and breast cancers, including EGFR/MAPK and PI3K. It will initially be made available to pharmaceutical companies as a clinical development tool, will also launch as an LDT in the company's certified CLIA laboratory. These funds will also support the development and planned 2016 launch of next-generation solid tumor panel, and the development of diagnostic tests for neurodegenerative diseases.  Exosomes are messengers released by all living cells into biofluids, such as plasma/serum, urine, cerebrospinal fluid and saliva. Exosomes contain RNA, DNA and proteins from their cell of origin. Exosome Diagnostics' proprietary technology platform can achieve real-time access to comprehensive molecular information about cells in the body without direct access to the actual cells. The company's liquid biopsy tests for cancer analyze exosomal RNA (exoRNA) for biomarkers. Its technology platform is uniquely versatile, offering the additional capability to simultaneously isolate and analyze exoRNA and cell-free DNA (cfDNA) to enhance detection of rare mutations. Because it is exosome-based, Exosome Diagnostics' core technology platform can be used to develop molecular tests not only for cancer, but potentially also for a number of non-cancer indications, including inflammatory, metabolic, cardiovascular, neurodegenerative, among other diseases.
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