Strand Diagnostics developed the know error® system to perform DNA Specimen Provenance Assignment (DSPA) testing using bar coding, forensic principles and DNA matching before initiating treatment. Launched in 2009, the company says it has conducted prospective DSPA testing on tens of thousands of patients and that hundreds of physicians across specialties have adopted its systems, with breast and prostate biopsy offerings the most popular. Strand reports that roughly 1% of positive cancer diagnoses involve undetected tissue transposition or contamination and that up to 2% of tissue biopsies could result in incorrect diagnoses absent DSPA testing. The company also operates a forensic division, Strand Analytical Laboratories, which supports law enforcement with DNA testing services. The announced capital from NantWorks is intended to accelerate growth, scale operations infrastructure, and expand sales and marketing; the announcement is datelined Indianapolis and Los Angeles.

Total raised

$30M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2012