Cleveland Diagnostics, Inc. Raises Over $19 Million in Financing
02/09/21, 2:02 PM
Location
clevelandMoney raised
$19 million
Cleveland Diagnostics, Inc., a clinical-stage biotechnology company developing next-generation diagnostic tests for the early detection of cancers, announced today that it has closed a Series D round of $17.4 million. The round was led by LYFE Capital, with participation from existing investors including Cleveland Clinic and others. Following the close of the round, the company received a term sheet for a $2M convertible note, expected to close shortly. Funds raised will be used to expand commercialization of IsoPSA—the company’s first diagnostic test, designed to enhance early detection of prostate cancer—as well as to expand internal infrastructure and operations to support platform development for other tests, including breast and lung cancer.
Company Info
Location
cleveland, ohio, united states
Additional Info
Cleveland Diagnostics, Inc., is a commercial-stage diagnostics company developing highly efficacious, lab-friendly, affordable diagnostics tests using proprietary technology to improve cancer diagnostics. Its Solvent Interaction Analysis™ (SIA) technology investigates protein biomarkers at the structural level (as opposed to overall biomarker concentration in blood), providing better and more direct insights regarding the protein origin on the cellular level, thus improving test specificity to the underlying disease process. Its portfolio of non-invasive cancer diagnostics will be expanding from prostate cancer to breast cancer and lung cancer, infectious diseases, and certain neurological diseases, such as Alzheimer’s disease. Visit us at ClevelandDx.com and IsoPSA.com.