Cambridge, MA-based IntegraGen pulled in $2.4 million in financing, earmarking the cash to commercialize its autism diagnostics and fund the development of its pipeline cancer tests.
The private fundraising affirms the company's status a promising producer of molecular diagnostics, IntegraGen's CEO said in a statement, especially considering the tepid venture capital climate around the industry. "This is a testimonial to investors' confidence in IntegraGen's efforts, specifically those associated with the commercialization of a genetic autism screening test this year in the U.S., as well as our progress in the field of oncology biomarkers," Bernard Courtieu said.
Back in April, IntegraGen launched Arisk Test, a gender-specific assay of genetic markers that indicate autism. The latest financing will help the company expand the test's market reach, IntegraGen said, and contribute to its R&D efforts. In the pipeline are genetic tests for colorectal and liver cancers, and the company is also working on further autism diagnostics.
The company, owned by France-based IntegraGen SA, reported revenues of $5.6 million last year.
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