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Biodesix Completes Series C Financing and Receives Grant
Date:11/10/2010

BROOMFIELD, Colo., Nov. 10, 2010 /PRNewswire/ -- Biodesix Inc. announced today that the company has raised $7.1 million in new equity financing, lead by existing investors. The Series C round, which included 5 new investors, will support ongoing commercialization activities for the company's first product VeriStrat®, a serum proteomic test that helps physicians guide treatment for patients with non-small cell lung cancer (NSCLC). Existing shareholders of the company provided $5.1 million of the funding.

"We are pleased that our investors have demonstrated their continued support of Biodesix and our mission to advance personalized medicine," said David Brunel, the company's Chief Executive Officer.  "This new investment will allow us to broaden and accelerate commercialization activities for VeriStrat including expanding our studies of VeriStrat's utility with new drug combinations that can significantly improve outcomes for lung cancer patients."

In related financing news, Biodesix also announced that they have been awarded $1.4 million in grants from the Qualified Therapeutic Discovery Program, an initiative from the Patient Protection and Affordable Care Act of 2010.  Under the program, grants were awarded to small biotechnology firms that show significant potential to produce new and cost-saving therapies, support U.S. jobs and increase U.S. competitiveness.  For Biodesix, the grants will help to advance development of six molecular diagnostic programs in oncology and autoimmune disease.  Each of the research programs leverages the Company's proprietary technology platform, ProTS® which enables the reliable and routine use of matrix-assisted, laser desorption ionization (MALDI) mass spectrometry as a diagnostic tool.  

In addition to the development of new diagnostic tests, both the financing and the grants will advance the Company's clinical validation programs for VeriStrat, including confirming its cli
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SOURCE Biodesix Inc.
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