Exosome Diagnostics reels in $17.6M for liquid biopsy development

Exosome Diagnostics CEO Thomas McLain

Exosome Diagnostics raked in $17.6 million in a second round of Series B financing, bringing the total amount raised to $44.7 million. The company plans to use the funds to support the launch of a few of its products, including two blood-based lung cancer liquid biopsies, a urine-based prostate cancer liquid biopsy and a solid tumor panel. Exosome will also funnel the cash toward development and a projected 2016 launch for its new solid tumor panel as well as to create tests for neurodegenerative diseases, the company said in a statement. "These funds also will enable us to drive our next generation of cancer diagnostics and, importantly, begin expanding into other disease areas, potentially bringing the benefits of exosome-based molecular diagnostics to patients across a broad spectrum of indications and medical needs," CEO Thomas McLain said in a statement. Statement