NORWOOD, Mass., Jan. 12 /PRNewswire/ -- Molecular Biometrics®, Inc., a metabolomics company developing novel clinical diagnostic tools for applications in personalized medicine, today announced it has completed a $12.5 million Series B financing. New investor Atlas Venture (Waltham, MA) led the round with participation from existing investors Safeguard Scientifics, Inc. (Wayne, PA), and Oxford Bioscience Partners (Boston, MA).
The financing will allow the company to accelerate the global launch of the company's lead product, ViaMetrics-E™, a rapid, non-invasive procedure that is designed to enhance in vitro fertilization (IVF) outcomes; implement manufacturing and product enhancements; and complete its ongoing FDA clinical study. ViaMetrics-E aids in the identification of viable embryos having the greatest reproductive potential, thus improving pregnancy rates in IVF, and ultimately reducing the number of embryos transferred along with the complications and healthcare costs that accompany multiple births.
"This is a very exciting time for Molecular Biometrics," said James T. Posillico, PhD, President and Chief Executive Officer, Molecular Biometrics. "We are expanding our commercial operations to support the international launch of ViaMetrics-E, while completing the necessary regulatory requirements to market the product in the United States. We believe that ViaMetrics-E will fill a large and growing unmet need in the IVF market. We are very pleased to be supported by such a strong group of investors, and we welcome their ongoing role in developing our company."
"Reducing the risk of multiple bi
|SOURCE Molecular Biometrics, Inc.|
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