21 investors back Biodesix with $4 million
Last Updated: 16:04 October 23, 2013
Boulder-based Biodesix makes diagnostic tests that help doctors make treatment decisions.
In April, Biodesix raised $8.8 million to market and sell its VeriStrat diagnostic test, which is used to help treat patients with advanced non-small-cell lung cancer.
It is unclear how Biodesix will use the latest round of capital. The company did not return a call for comment.
Twenty-one investors were involved in the latest round of funding, which will be in the form of promissory notes convertible into equity securities in the company, according to the regulatory filing.
VeriStrat is used to help doctors decide if lung cancer patients should receive treatment with the drug erlotinib (trade name Tarceva). Biodesix said in February 2012 that it would collaborate with New York-based Kadmon Corp. in a lung cancer study on Kadmon's drug-treatment candidate.
Over the past two and a half years, Biodesix has partnered with several biopharmaceutical companies to examine VeriStrat's use in connection with oncology therapies. Biodesix also has partnered with other companies to research other potential diagnostic tests.
Drug candidate and diagnostic test companies must go through a testing process that can take 10 years to receive approval from the U.S. Food and Drug Administration.
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