Pathwork Diagnostics develops molecular diagnostic tests for oncology, with a core product called the Tissue of Origin Test. The test identifies the source of cancers that are difficult to classify and is designed to work on formalin-fixed, paraffin-embedded (FFPE) tissues, the most common clinical specimen type. Results are intended to be accurate and reproducible and are evaluated by physicians alongside the patient’s clinical history and complementary diagnostics. The company recently received U.S. Food and Drug (FDA) clearance for the test. Pathwork also signed a diagnostic discovery partnership in oncology with Novartis. Management says the recent financing will support commercial activities and enable expansion of the company’s product offerings. Pathwork Diagnostics, based in Sunnyvale, California, develops and sells diagnostic tests for cancer. The company’s core products are cancer diagnostic tests. Pathwork raised $20 million in a second round of funding. The round was led by new investor Abingworth Management and included participation from existing backers Advent Venture Partners, Novus Ventures, Prospect Venture Partners, Venrock and Versant Ventures. Prior to this financing Pathwork had previously raised $11 million. The article does not disclose revenue, user metrics, valuation, or specific future plans.

Total raised

$50M

Funding rounds

2

Latest round

Series C

Latest activity

Oct 2010