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Biodesix Increases Series E Financing

January 24, 2014

Biodesix, a fully integrated molecular diagnostic company dedicated to personalizing medicine, announced that the company increased the size of its recent offering of series E preferred shares in a follow-on sale. According to a release, in addition to the $8.3 million of series E shares sold a month ago, the company brought in another $6.1 million , for total proceeds from the sale of series E preferred shares of $14.4 million . Existing shareholders of the company provided all funds and the offering will remain open to current shareholders until September of 2014. The investment will be used for ongoing development of the company's technology platform and expansion of sales and marketing efforts to support Biodesix' first product, VeriStrat. VeriStrat is a serum protein test that helps physicians guide therapy for patients with advanced non-small cell lung cancer (NSCLC). More Information: ((Comments on this story may be sent to ))

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Source: Manufacturing Close - Up

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