Vigilant Biosciences raised $5 million in a Series B2 round, bringing its total Series B to $10.5 million and its total funding raised to $12.5 million. The funding will go toward developing its cancer biomarker diagnostic test and commercializing its CE-marked diagnostic tests for oral cancer.
Existing backers White Owl Capital Partners and venVelo, as well as a group of private investors, participated in the round, according to a statement.
Vigilant’s OncAlert Oral Cancer products are a noninvasive early-stage cancer diagnostic. They are administered via an oral rinse and measure protein levels and a stem cell-associated biomarker called CD44, both of which can detect oral cancer before physical symptoms manifest themselves. Two of the tests, the OncAlert Oral Cancer RAPID Test and the OncAlert Oral Cancer LAB Test, are available outside the U.S., while the company will launch the OraMark Test in the U.S. later this year.
"As hundreds of thousands continue to be diagnosed with oral cancer every year, we are committed to providing an accurate, effective and affordable way to aid in the early detection of risk for the disease," Vigilant CEO Matthew Kim said in a previous statement. The Fort Lauderdale, FL-based company will use the funding to propel the development of OncAlert tests for other indications as well as the development of “additional products” in its pipeline.
Other companies working on early cancer detection include Israel’s Nucleix, which is developing a test for early-stage bladder cancer, and Exact Sciences ($EXAS), which is partnering with the Mayo Clinic on new diagnostics for colorectal cancer and other gastrointestinal diseases.
- here's the statement