HUNTINGTON BEACH, California and AMSTERDAM, September 22 /PRNewswire/ -- Agendia, a world leader in molecular cancer diagnostics, today announced the successful closing of a US $23 million series E investment. The financing round was led by an undisclosed family investment firm that provided approximately half of the funds. In addition, two independent entrepreneurs participated with an investment of US $1 million each, while the remaining capital was raised through Agendia's existing investor base.
"The success of this financing round was aided by MammaPrint(R)'s increasing U.S. demand, as well as growing reimbursement from private U.S. payors. The proceeds will be used to accelerate the commercialization of MammaPrint in the U.S. market," said Dr. Bernhard Sixt, President and Chief Executive Officer of Agendia.
"We are excited to be a part of Agendia's continued growth and to enable the company to bolster its strategic marketing and sales efforts as it brings MammaPrint to an ever increasing number of breast cancer patients," said Gertjan van der Baan, Board Member on behalf of van Herk Group, Agendia's largest investor.
Dr. Sixt will present at the UBS Global Life Sciences Conference on Wednesday, September 23, 2009 at 1 p.m. (ET) in Ballroom D at the Grand Hyatt in New York.
MammaPrint is the first 'in vitro diagnostic multivariate index assay'
(IVDMIA) cleared by the U.S. Food and Drug Administration (FDA). FDA
clearance requires clinical and analytical validation and reporting systems
to ensure patient safety issues are addressed. Highly accurate, MammaPrint
identifies patients with early metastasis-patients who are likely to develop
metastases within five years following surgery. Several authoritative studies
have shown that chemotherapy particularly reduces early metastasis risk. In
planning treatment, the MammaPrint test results provid
|SOURCE Agendia B.V.|
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