Saladax raises $8M in Series C

Bethlehem, PA-based Saladax Biomedical has raised $8.4 million in Series C financing to expand clinical support of the company's Mycare line of diagnostic tests. The tests measure blood levels of cancer and central nervous system disorder drugs, which helps physicians determine the best dosing for patients. The round was led by Excel Venture Management of Boston. Other participants included Golden Seeds LLC, Ben Franklin Technology Partners, and the Life Sciences Greenhouse of Central Pennsylvania.

 "In this very difficult funding environment, we are pleased that our line of diagnostic tests continues to gain the support of our investors. These resources will allow us to continue with the clinical validation of additional candidates in our line of diagnostic tests in an effort to help make the benefits of personalized dosing a reality for patients and their physicians," says Saladax CEO Salvatore Salamone.

- here's Saladax's release