• Exosome Diagnostics

  Participated · Series B · Jan 2016

  Exosome Diagnostics develops and commercializes exosome‑based, biofluid diagnostics using its ExoLution™ platform and point‑of‑care instrumentation ShahkyTM. Its flagship offering is the ExoDx® Prostate (IntelliScore) test, and the company is commercializing additional oncology diagnostic tests. Management plans to expand into other areas including neurodegenerative diseases, transplant rejection monitoring, and cardiology. Exosome Diagnostics is building out a companion diagnostics (CDx) business and expanding placement of exosomal instrumentation while advancing point‑of‑care clinical development. Technology differentiators cited include one‑reaction RNA and cell‑free DNA interrogation for signal enhancement and the ability to isolate disease‑specific exosomes by tissue type. The company completed a $30 million Series C financing to support rapid commercial expansion and further commercialization of its technologies. Exosome Diagnostics develops an exosome-based liquid biopsy platform that isolates and analyzes exosomal RNA, DNA and proteins from biofluids to enable non-invasive molecular diagnostics. The company’s tests analyze exoRNA for cancer biomarkers and its platform can simultaneously interrogate exoRNA and cell-free DNA to enhance detection of rare mutations. Exosome Diagnostics also highlights protein biomarker interrogation capabilities to broaden its diagnostic scope. The company plans to launch combined RNA-plus-DNA commercial liquid biopsy tests and pursue potential companion-diagnostic programs with pharma. It intends to expand development beyond oncology into areas such as neurodegenerative, inflammatory, metabolic, and cardiovascular diseases. Financially, Exosome Diagnostics completed a $60 million Series B financing to support growth of its commercial diagnostics, regulatory, and companion-diagnostics divisions and to advance new test and biomarker development. Exosome Diagnostics develops exosome-based molecular diagnostics that isolate and analyze exosomal RNA (exoRNA) and can also analyze cell-free DNA (cfDNA) from biofluids such as plasma, urine and saliva. Its liquid biopsy tests analyze exoRNA for cancer biomarkers and the platform is positioned to be applied to non-oncology indications as well. The company announced a $17.6M extension of its Series B, bringing the total Series B financing to $44.7M, and said the funds will support commercial and development efforts. Planned near-term commercial launches in 2015 include two blood-based lung cancer liquid biopsies (detecting ALK and T790M mutations), a urine-based prostate cancer liquid biopsy, and a 26-gene solid tumor panel offered initially as an LDT. It is developing a next-generation solid tumor panel planned for 2016 to detect 88 genes and thousands of mutations, and is beginning early development of diagnostics for neurodegenerative diseases. Management says the financing positions the company to transition to a commercial-stage company and expand its exosome-based tests across additional disease areas. Exosome Diagnostics develops fluid-based molecular diagnostic tests that analyze exosomes and other microvesicles in biofluids (blood, urine, cerebrospinal fluid) to detect disease-specific genetic material. Led by CEO James McCullough, the company positions its platform for personalized medicine and oncology applications. Planned near-term product launches include EXO106 (a prostate-cancer diagnostic to reduce unnecessary biopsies) and exoRNeasy research kits for RNA extraction targeted for Q2 2014. Under an expanded collaboration with QIAGEN the company is developing EXO501, a blood-based test to measure an actionable mutation in non-small cell lung cancer for non-invasive, repeated tumor mutation assessment. It is also developing EXO1000, a blood-based multi-gene clinically actionable biomarker panel for oncology. The company will use the new funding to support these product launches and continued R&D of its proprietary technology platform. Exosome Diagnostics develops exosome-based molecular diagnostics that detect cancer-specific genes from standard blood and urine samples. Its proprietary exosome technology enables minimally invasive testing for disease stratification and monitoring patient response to treatment. The company aims to further develop and commercialize a series of body-fluid-based oncology diagnostics using the new capital. Exosome Diagnostics is establishing R&D and service operations in New York and Munich to support development and commercialization. In conjunction with the financing it incorporated Exosome Diagnostics GmbH as a wholly owned subsidiary to serve as the European center for development and services. The company raised $20M in equity funding to advance these efforts.

• Protagen

  Participated · Equity · Dec 2014

  Protagen AG develops novel diagnostic and companion diagnostic tests in the autoimmune field using its proprietary SeroTag biomarker platform. The company targets diseases with unmet diagnostic needs and aims to become a leading provider of autoimmune diagnostic products. It maintains a diagnostic pipeline, a broad patent portfolio, and partners with other organizations to develop companion diagnostics. Protagen highlighted a pharma collaboration with Pfizer and the mid-2014 launch of the ADx Multilisa® SSc research-use assay. The company plans to complete and commercialize IVD development programs in rheumatoid arthritis, systemic lupus and systemic sclerosis. Protagen is headquartered in Dortmund, Germany. Protagen AG is a Dortmund-based specialist in in-vitro diagnostics and GMP-compliant protein analysis. The company develops serum-based molecular diagnostics using its UNIarray® technology platform to identify indication-specific autoantibody patterns. Current development efforts focus on early detection of Multiple Sclerosis and the differential diagnosis of Prostate Cancer, with additional programs across cancer types and autoimmune and neurodegenerative diseases. The new capital will be used for targeted expansion of the Diagnostics business unit and for clinical validation of proprietary diagnostic marker proteins. Management says the financing will allow completion of current development programs through market launch and to position Protagen as a preferred out-licensing partner for the diagnostic industry. In conjunction with the round, an NRW.BANK senior investment manager joined the company’s supervisory board.

• Curetis

  Participated · Series B · Nov 2014

  Curetis develops and commercializes the Unyvero molecular diagnostic platform that delivers rapid multi-parameter pathogen and antibiotic-resistance marker detection in only a few hours. The company intends to further develop and validate complementary technology assets and associated IP, fund clinical trials, and integrate the recently acquired GEAR database and assets into its platform. The financing is targeted to accelerate R&D activities and to broaden the pipeline of applications for Unyvero. Founded in 2007 and based in Holzgerlingen near Stuttgart, Germany, Curetis focuses on fast, cost-effective diagnostics for severe infectious diseases. To date the company has raised EUR 44.3 million in an IPO on Euronext Amsterdam and Brussels and over EUR 63.5 million in private equity, and it has now entered into an EIB debt facility up to EUR 25 million. The funding is expected to cover up to 50% of Curetis’s expected medium-term R&D project requirements, including R&D staff costs, external R&D operating expenses and related capital expenditures. Curetis is a German developer of next-generation molecular diagnostics centered on its Unyvero platform. The Unyvero system is a comprehensive diagnostics platform for severe infectious diseases in hospitalized patients, using a variety of cartridges to diagnose conditions such as pneumonia and implant and tissue infections within four to five hours. The Unyvero P50 Pneumonia and i60 Implant and Tissue Infection applications are already approved for use in Europe. Curetis will use the new funds to support the European product rollout and to run a U.S. clinical trial of Unyvero; the company is also looking to bring its tests to Asian markets. Management said it is pursuing attractive future exit opportunities including strategic partnerships, M&A or an IPO. The new financing increases the company’s total equity raised to more than $79.2 million and, according to the company, finances operations well into 2017. Curetis AG announced the closing of a Series B financing totaling EUR 12.5 million. The round was led by HBM Partners, which took an EUR 6.0 million equity stake in Curetis. Dr. Alexander Asam of HBM Partners will join Curetis' supervisory board. The announcement was presented as portfolio news. No other investors or financing instruments were disclosed in the article. No operating metrics, past rounds, founding year, or location were provided. Curetis, founded in 2007 and based in Holzgerlingen near Stuttgart, Germany, develops and commercializes rapid molecular diagnostic solutions. Its core product, the Unyvero System, is designed to detect pathogens and antibiotic resistance markers within a few hours. The technology aims to enable clinicians to diagnose causes of severe infections faster and begin targeted antibiotic regimens immediately for critically ill patients. The company is led by CEO Oliver Schacht, PhD, with CTO Andreas Boos and COO Johannes Bacher. Curetis has been advancing commercialization alongside continued development of its diagnostic platform. Recent financing activity has supported its near-term growth and Board expansion. Curetis AG develops and commercializes in vitro diagnostic products for infectious diseases, centered on its Unyvero product platform. The company intends to use newly raised funds to prepare for commercial launch and roll-out of Unyvero together with a CE‑marked IVD test cartridge for pneumonia and antibiotic resistances. Unyvero is a hardware platform designed to detect a broad panel of bacteria and antibiotic resistances from a single sample in one run. Curetis is based in Holzgerlingen, Germany, and recently appointed Oliver Schacht, PhD, as CEO. Financially, the company has been capitalizing its commercialization push through equity financing, including a prior €18.5m raise in 2009.

• Xagenic

  Participated · Series A · Jan 2012

  Xagenic is a Toronto-based molecular diagnostics company developing the lab-free Xagenic X1™ platform for point-of-care use. The X1 platform is intended to allow users to perform lab-quality molecular diagnostic tests in the physician office with a reported time-to-result of 20 minutes. The company also maintains a San Francisco office. Xagenic is led by Chief Executive Officer Timothy I. Still. The company raised CAD$15M in funding and intends to use the proceeds to accelerate its development efforts. Backers listed in the article included Domain Associates, CTI Life Sciences, BDC Capital and the Ontario Capital Growth Corporation. Xagenic develops a fully-automated, lab-free molecular diagnostic platform designed to deliver results in about 20 minutes. The company is building a menu of infectious disease tests intended to improve patient care and reduce healthcare costs. Leadership includes Founder and CTO Shana Kelley and Executive Chairman Bruce Cohen. Xagenic recently closed an additional $5.5M tranche of its Series B, bringing the round to $25.5M, and added BDC Capital as an investor. Dion Madsen of BDC Capital will join Xagenic’s board of directors. The company plans to use the funds to continue its development program ahead of anticipated analytical and clinical study starts later this year. Xagenic received the Frost & Sullivan 2014 Point-of-Care Diagnostics New Product Innovation Leadership Award. Xagenic develops a lab-free molecular diagnostic platform built around its AuRA™ (Amplified Redox Assay) technology, which uses patent-protected nanostructured microelectrodes for rapid, enzyme-free direct detection of nucleic acids without sample extraction. The assay workflow is automated on a disposable cartridge that runs on a small system to enable on-demand, near-patient testing and inform treatment decisions at first consultation. The company says its platform delivers a 20-minute time-to-result. Xagenic intends to use the new financing to support ongoing development and clinical studies toward regulatory approval and commercialization of its platform and lead diagnostic assay. The company was spun out of the University of Toronto in 2010 and is led by Executive Chair Bruce Cohen. No operating metrics (revenue/users) were disclosed in the article. Xagenic is a Toronto-based molecular diagnostics company developing a lab-free platform to enable decentralized diagnostic testing outside clinical laboratories. The company will use government funds to support the design and development of that platform. The Government of Canada will provide up to $990K in funding for this work. This investment complements a recent $10M Series A venture capital round. That Series A included investments from CTI Life Sciences Fund, the Ontario Emerging Technologies Fund (OETF) and QIAGEN N.V. The company is positioning its technology to enable widespread diagnostic testing beyond traditional lab settings. Xagenic is a Toronto-based molecular diagnostics company developing a fully automated technology platform for decentralized, rapid diagnostic testing. Led by CTO Dr. Shana Kelley, the University of Toronto spinout aims to enable diagnostic testing outside clinical laboratories. The company plans to use the funds to develop the molecular diagnostic testing platform and to build lead tests intended for use in physician offices, clinics and hospital settings. Xagenic closed a $10M Series A financing to support that development. The round was co‑led by CTI Life Sciences Fund and the Ontario Emerging Technologies Fund, with participation from QIAGEN N.V. In conjunction with the financing, Dr. Shermaine Tilley and Richard Meadows of CTI will join Xagenic’s board of directors.

No current team members are available.