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Biodesix Closes Series D Financing - July 2011

Biodesix Inc., a fully integrated molecular diagnostic company developing products that improve clinical decision making , has closed on a $20 million Series D financing. The new capital will support ongoing commercialization activities for the Company’s first product VeriStrat®, a blood-based test that helps physicians guide treatment for patients with non-small cell lung cancer (NSCLC).  The financing was led by existing investors, a small group of industry insiders.

“We are pleased to have a committed investor group that supports Biodesix in its mission to advance personalized medicine,” said David Brunel, the company’s Chief Executive Officer.  “This new investment will allow Biodesix to broaden and accelerate commercialization activities for VeriStrat, including expanding our studies of VeriStrat’s utility in other solid tumors and with new drug combinations that can significantly improve outcomes for cancer patients.”

This funding will also support the Company’s ongoing collaborations with a number of biotechnology and pharmaceutical companies seeking diagnostics to identify the most appropriate patients for their targeted oncology therapies.

About VeriStrat

VeriStrat is a proteomic serum test for patients with advanced NSCLC. The test identifies patients who are likely to have good or poor outcomes after treatment with epidermal growth factor receptor inhibitors (EGFRIs). Samples are processed in Biodesix’ CLIA accredited laboratory and results are typically reported within 72 hours of sample shipment. VeriStrat has been validated in clinical studies with over 1500 patients. Biodesix is engaging in additional studies to further validate the test and to explore the clinical utility of VeriStrat in other solid epithelial tumors and with other EGFRIs. For more information on VeriStrat or to order VeriStrat, visit www.VeriStratSupport.com or call the VeriStrat Support Hotline at 1-866-432-5930.

About Biodesix

Biodesix is a fully integrated molecular diagnostic company developing products for personalized medicine that improve patient care. The Company’s goal is to give physicians more information about the patient and their disease; understanding the clinically meaningful information contained within each patient’s molecular profile leads to better care and better outcomes. The Company’s unique approach is based on ProTS®, proprietary technology which exploits the power of mass spectrometry and enables the discovery of specific molecular profiles. Biodesix collaborates with clinical investigators to address critical clinical questions, and partners with biotechnology and pharmaceutical companies to develop diagnostics to select patients most likely to benefit from novel therapies. For more information about Biodesix, please visit the Company’s website at www.Biodesix.com.

Topics: biotechnology, blood-based cancer test, cancer diagnostics, diagnostics, personalized medicine, pharmaceutical, Press Releases, Series D financing, Veristrat, liquid biopsy, lung cancer, molecular diagnostic, Non-Small Cell Lung Cancer, NSCLC