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Tethys Bioscience Hits Key Milestones With Series C Funding, Opening of CLIA Laboratory
Date:1/10/2008

Biomarker discovery company builds strong financial and clinical foundation in preparation for release of technology enabling early detection of risk

for diabetes

EMERYVILLE, Calif., Jan. 10 /PRNewswire/ -- Tethys Bioscience today announced that it has reached two significant milestones in its drive to release Tethys Diabetes PreDxTM, a multi-biomarker technology that provides a more complete picture of an individual's future risk of developing diabetes. The company received its latest round of funding (Series C), and also received the licensing of its CLIA Lab by the State of California. Both moves place Tethys Bioscience in a strong position to establish itself as a leader in the emerging field of personalized predictive medicine and to achieve its goal of helping to stem the burgeoning epidemic of chronic, high-burden metabolic disease. Tethys Diabetes PreDxTM will be generally available in the first half of 2009.

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The new round of funding is led by Intel Capital, which was created specifically to invest in innovation and has a strong interest in the emerging field of predictive personalized medicine. This latest financing, a process begun with earlier investments from some of the leading venture capital firms, including Kleiner Perkins Caufield & Byers and MDV-Mohr Davidow Ventures, results in a total of $54 million in financing, to date.

"We're very pleased to receive this round of financing from our investors, and believe it supports our vision to dramatically improve the detection and treatment, and ultimately prevention, of chronic diseases," said Mickey Urdea, CEO of Tethys Bioscience. "It gives us the resources to accelerate our work in this critical field, and to introduce a technology that enables a clinically simple blood test that provides an
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SOURCE MDV-Mohr Davidow Ventures
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