Cambridge, Massachusetts-based Exosome Diagnostics Inc, a liquid biopsy platform developer, has raised $60 million in Series B funding. The investors included Forbion Capital Partners, NGN Capital, CD Ventures, Qiagen, Arcus Ventures, Tiger Management and Blue Ridge Capital.
Exosome Diagnostics, Inc., the developer of a revolutionary liquid biopsy platform that enables non-invasive diagnosis of serious diseases, aiming to reduce or eliminate the need for tissue biopsies, today announced the final close of its $60 million Series B financing. Participating investors in the Series B round included Forbion Capital Partners, NGN Capital, and CD Ventures, as well as new investors, Qiagen, Arcus Ventures, Tiger Management and Blue Ridge Capital.
“We are pleased to successfully complete our Series B financing,” said John Boyce, President and Chief Executive Officer of Exosome Diagnostics. “Our proprietary technology platform and exosomal expertise has made Exosome Diagnostics a leader in developing biofluid-based molecular diagnostics with performance superior to that of cell free DNA platforms alone. With our financial resources and commercial, development and regulatory teams in place, we are poised to launch the first ever combined RNA plus DNA liquid biopsy based commercial diagnostics tests, as well as potential companion diagnostic programs with pharma, to fully exploit the value of our robust, sensitive, liquid biopsy based approach.”
Exosome Diagnostics expects to use the funds to support the growth of its commercial diagnostics, regulatory, and companion diagnostics divisions, as well as the development of potential new diagnostic tests outside of oncology, such as in neurodegenerative diseases, and expand the development of its protein biomarker programs. These divisions and technology differentiators, such as its protein biomarker interrogation capabilities, will further distinguish Exosome Diagnostics as the industry leader in the liquid biopsy space.
“I am very pleased that Exosome Diagnostics has been able to close such a substantial funding round and bring in highly-reputed new investors to invest alongside our current investors, Forbion, NGN, and, CD Ventures,” said Kapil Dhingra, Chairman of the Board of Directors of Exosome Diagnostics. “We believe the quality of the investment syndicate confirms the enormous progress made by Exosome Diagnostics in bringing exosome-based diagnostic tests to the market and the potential of the opportunities that lie ahead of us.”
About Exosome Diagnostics’ Tests and Exosome-Based Platform
Exosomes are messengers released by all living cells into biofluids, such as plasma/serum, urine, cerebrospinal fluid and saliva. Exosomes contain RNA, DNA and proteins from their cell of origin. Exosome Diagnostics’ proprietary technology platform can achieve real-time access to comprehensive molecular information about cells in the body without direct access to the actual cells. The company’s liquid biopsy tests for cancer analyze exosomal RNA (exoRNA) for biomarkers. Its technology platform is uniquely versatile, offering the additional capability to simultaneously isolate and analyze exoRNA and cell-free DNA (cfDNA) to enhance detection of rare mutations. Because it is exosome-based, Exosome Diagnostics’ core technology platform can be used to develop molecular tests not only for cancer, but potentially also for a number of non-cancer indications, including inflammatory, metabolic, cardiovascular, neurodegenerative, among other diseases.
About Exosome Diagnostics
Exosome Diagnostics is a privately held company focused on developing and commercializing revolutionary biofluid-based diagnostics to deliver personalized precision healthcare that improves lives. The company’s novel exosome-based technology platform can yield comprehensive and dynamic molecular insights to transform how cancer and other serious diseases are detected, diagnosed, treated and monitored. Visit www.exosomedx.com to learn more.