Navigation Links
Biodesix Completes Series C Financing and Receives Grant

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 clinical utility with additional targeted oncology therapies and for other tumor types such as colorectal, breast, and head and neck cancers.

About VeriStrat

VeriStrat is a serum proteomic test that predicts response to a specific targeted therapy, erlotinib, in patients with advanced NSCLC.  Identifying patients likely to benefit from erlotinib helps physicians personalize therapy and may improve patient outcomes.  Samples are processed in Biodesix' CLIA accredited laboratory and results are typically reported within 72 hours of sample shipment.  VeriStrat has been validated in clinical studies with over 1500 patients.  Biodesix is engaging in additional studies to further validate the test and to explore the clinical utility of VeriStrat in other solid epithelial tumors and with other targeted therapies. For more information on VeriStrat or to order VeriStrat, visit or call the VeriStrat Support Hotline at 1-866-432-5930.

About Biodesix

Biodesix is a personalized medicine company focused on the development of diagnostic products that inform treatment decisions and improve patient care.  In 2009, Biodesix launched VeriStrat®, a serum proteomic test that helps physicians guide treatment for patients with non-small cell lung cancer.  VeriStrat is based on ProTS®, proprietary technology which harnesses the power of mass spectrometry and enables the discovery of specific molecular profiles that characterize a patient's condition or likely outcome in response to therapy.  The ProTS® platform has broad application and provides the foundation for collaborations with leading researchers as well as partnerships with biotechnology and pharmaceutical companies seeking to develop companion diagnostics and improve the targeting of their therapies. For more information about Biodesix, please visit the Company's website at

SOURCE Biodesix Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. PDL BioPharma Completes Exchange to Retire $92.0 Million of 2.00% Convertible Notes Due August 2012
2. BioMed Realty Trust Completes South San Francisco Portfolio Acquisition
3. University of Hawaii completes 3-year investigation of military munitions sea disposal site
4. Helix BioPharma Completes Definitive GLP Toxicology Studies With L-DOS47 and is Making Final Preparations for its Planned Phase I/II Clinical Study IND/CTA Submissions
5. CoreLab Partners Completes First TQT Study in Japan
6. ISTO Technologies, Inc., Completes Enrollment in Phase I NuQu Clinical Trial
7. PDL BioPharma Completes October 1 Special Dividend Payment
8. China Pharma Holdings, Inc. Successfully Completes Phase I Clinical Trials of New Anti-Drug-Resistance Antibiotic
9. Jennerex Completes Fully Subscribed Private Placement for Aggregate Gross Proceeds of $8.6 Million
10. Regenicin Completes Acquisition of Worldwide Exclusive Know-How Technology License from Lonza Walkersville
11. DATATRAK Completes Sale of 357,857 Common Shares to Directors and Management
Post Your Comments:
(Date:11/24/2015)... Nov. 24, 2015 /PRNewswire/ - Aeterna Zentaris Inc. ... that the remaining 11,000 post-share consolidation (or 1,100,000 ... (the "Series B Warrants") subject to the previously ... November 23, 2015, which will result in the ... effect to the issuance of such shares, there ...
(Date:11/24/2015)... ... November 24, 2015 , ... InSphero AG, the leading supplier of easy-to-use ... promoted Melanie Aregger to serve as Chief Operating Officer. , Having joined ... management team and was promoted to Head of InSphero Diagnostics in 2014. ...
(Date:11/24/2015)... 24, 2015 Capricor Therapeutics, Inc. ... the discovery, development and commercialization of first-in-class therapeutics, today ... Officer, is scheduled to present at the 2015 Piper ... a.m. EST, at The Lotte New York Palace Hotel ... . --> . ...
(Date:11/24/2015)... and NEW YORK , November 24, 2015 ... by Bristol-Myers Squibb in a European ... Squibb Company in which the companies will work closely ... and other areas of unmet medical need. The collaboration is ... 5, the latest LSP fund. This is the first investment ...
Breaking Biology Technology:
(Date:11/20/2015)... , November 20, 2015 ... company focused on the growing mobile commerce market and ... Gino Pereira , was recently interviewed on ... will air on this weekend on Bloomberg Europe ... America . --> NXTD ) ("NXT-ID" or ...
(Date:11/19/2015)... VIEW, Calif. , Nov. 19, 2015  Based ... market, Frost & Sullivan recognizes BIO-key with the 2015 ... Leadership. Each year, Frost & Sullivan presents this award ... product line catering to the needs of the market ... the product line meets and expands on customer base ...
(Date:11/19/2015)... , Nov. 19, 2015  Although some 350 companies ... dominated by a few companies, according to Kalorama Information. These ... 51% of the market share of the 6.1 billion-dollar ... The World Market for Molecular Diagnostic s .    ... market is still controlled by one company and only ...
Breaking Biology News(10 mins):