Cambridge, MA-based Metamark Genetics has raised $22 million in Series B funding. The cancer diagnostics firm's platform--called Metamark's Prognosis Determinans--allows physicians to identify which early-stage cancers are metastatic. That knowledge lets doctors determine personalized treatment plans for patients.
Investor names were not disclosed, but the lead investor will have the opportunity to purchase an additional $8 million in preferred stock if certain milestones are met. The financing will be used to expand Metamark's R&D and clinical testing, and to establish a commercialization strategy for the platform. "We expect that this robust level of capitalization will assure that Metamark has the resources to fully develop and prepare for the commercialization of its innovative molecular diagnostic tests for early stage cancers, which comprise the majority of cancer diagnoses today," says CEO Kenneth Weg in a statement.
- here's the Metamark release
PLUS: California-based BARRX Medical has landed $15 million Series D financing in a round led by new investor Highland Capital Partners. BARRX markets endoscopic treatment solutions for treating precancerous lesions of the esophagus as well as other chronic gastrointestinal diseases. The financing will be used to expand its technology into new diseases and internatioal markets. BARRX release
ALSO: EndoStim, a medical device company developing minimally invasive interventional therapies to treat gastrointestinal and urological neuro-muscular disorders, has raised $6 million in Series B equity financing. Santé Ventures led the round. The financing will be used to continue clinical trials and pursue CE Mark and FDA approval for its procedures. EndoStim release