Tethys Bioscience has landed a $25 million Series D round of financing to help commercialize its diabetes risk test. The round was led by Aeris Capital; Wasatch Advisors was also on board as a new investor. As part of the funding round, George Rehm, Managing Partner of Aeris, was appointed to the company's board.
Tethys is marketing its PreDx Diabetes Risk Score product, a blood test that helps healthcare professionals identify patients who are at risk of developing Type 2 diabetes within the next five years.
"These funds will enable Tethys to respond to rapidly increasing customer demand for the PreDx DRS from the large primary care physician market and to broaden our reach to these clinicians through new commercialization strategies," said Mickey Urdea, Ph.D., Chairman and CEO of Tethys. "To enhance the clinician's experience and effectiveness with the PreDx DRS, we are also developing a diabetes risk-reduction initiative, which will help them to educate their high-risk patients about critical lifestyle and behavioral changes that may help prevent the development of diabetes."
- check out the Tethys release