Biological Dynamics, Inc. a private molecular diagnostics company, announced today (November 5, 2015) that it has completed a $26.8M round of financing. The financing round, consisting of a combination of Series C investment and convertible debt, was led by a large institutional investor associated with a major university. The round was joined by new and existing investors including the Heritage Group, Alexandria Venture Investment, and Irwin Jacobs, the co-founder of Qualcomm. Proceeds from the financing will be used to advance regulatory clearance for the company’s lead oncology diagnostic program, the TR(ACE)™ assay (http://biologicaldynamics.com/oncology/), and for general working capital purposes. Biological Dynamics has pioneered the use of alternating current electrokinetics (ACE) technology in the field of molecular diagnostics. The company’s ACE lab-on-chip (LOC) platform (http://biologicaldynamics.com/ace-platform/) isolates nanoparticles from high-conductance physiological solutions (such as whole blood, plasma, and serum) directly, without the need for dilution and with minimal hands-on time. This direct-to-analyte approach allows the company to develop minimally invasive and simple-to-perform diagnostic tests that detect cell-free DNA, exosomes, and certain cellular debris from 250 microlieter samples in less than 30 minutes. The company’s first product, which is the TR(ACE)TM assay, utilizes the ACE platform to assess treatment response in oncology. “We are grateful for the enthusiastic response from our new institutional investor and the continued support from our existing ones,” said Raji Krishnan, Ph.D., CEO of Biological Dynamics. “Treatment response monitoring (TRM) is a key piece of patient care.
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