Allegro Diagnostics, based in Maynard, Mass., has developed a molecular testing platform that uses gene expression of normal epithelial cells in the respiratory tract to detect early signs of lung cancer. The platform is based on the "field of injury" principle and detects gene expression signatures in non-malignant airway cells of current and former smokers that indicate malignancy elsewhere in the lung. The company's lead product is the BronchoGen™ genomic test, intended for use alongside standard bronchoscopy to provide additional diagnostic information earlier in the diagnostic process. Allegro has applied its platform to generate multiple product candidates and plans to commercialize BronchoGen in 2012. The company closed a $5.4M Series A extension financing, and proceeds from the round will support BronchoGen's commercialization. Approximately 300,000 bronchoscopic exams are performed each year and many results are inconclusive, which Allegro positions BronchoGen to address clinically and commercially. Allegro Diagnostics develops and commercializes molecular diagnostics for lung cancer using proprietary gene expression technology originating at the Pulmonary Center of Boston University School of Medicine. The company was founded in 2006 and is based in Boston. Its initial product is intended to provide earlier, less invasive and more accurate diagnosis of early-stage lung cancer and will be taken into the clinic following this financing. Jerome Brody, MD, a developer of the underlying technology, has joined Allegro as Chief Scientific Officer. Allegro is privately funded by Kodiak Venture Partners, Catalyst Health Ventures, and Boston University. The Series A proceeds are intended to enable clinical development and commercialization of the company’s first diagnostic.

Total raised

$9M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2011