Navigation Links
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 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 www.VeriStratSupport.com 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 www.Biodesix.com.


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:5/24/2016)...   MedyMatch Technology Ltd ., the data analytics healthcare ... support tools in the emergency room, announced today that it ... Technology Industries (IATI) BioMed Conference. The Conference ... National Life Sciences and Technology Week, and is being held ... Tel Aviv, Israel . Gene Saragnese ...
(Date:5/24/2016)... ... 2016 , ... Media Cybernetics, global image analysis leader, announces ... reflects a results-driven revitalization for a company with a renewed focus on innovation ... crisp, refreshed logo and a new web presence. , “I believe that the ...
(Date:5/23/2016)... (PRWEB) , ... May 23, 2016 , ... ... That Will Drive Precision Farming in 2017 and Beyond. The paper outlines the ... in the precision ag industry. , “We’ve witnessed a lot of highs and ...
(Date:5/23/2016)... England , May 23, 2016 ... May 25 th at 10:15 a.m. ET before the ... the role genetically engineered mosquitos can play in controlling the ... carrier of the Zika virus.      (Logo: ... engineered male mosquito with a self-limiting gene. Trials in ...
Breaking Biology Technology:
(Date:3/14/2016)... NXTD ) ("NXT-ID" or the "Company"), a company ... of a new series of commercials on Time Warner Cable ... .  The commercials will air on Bloomberg TV, Fox Business ... show. --> NXTD ) ("NXT-ID" or the "Company"), ... the airing of a new series of commercials on Time ...
(Date:3/11/2016)... March 11, 2016 http://www.apimages.com ) - ... Picture is available at AP Images ( http://www.apimages.com ) - ... be used to produce the new refugee identity cards. DERMALOG will ... at CeBIT in Hanover next week.   ... will be used to produce the new refugee identity cards. DERMALOG ...
(Date:3/10/2016)... , March 10, 2016 ... new market research report "Identity and Access Management Market ... Audit, Compliance, and Governance), by Organization Size, by Deployment, ... 2020", published by MarketsandMarkets, The market is estimated to ... 12.78 Billion by 2020, at a Compound Annual Growth ...
Breaking Biology News(10 mins):