Biodesix, Inc., a molecular diagnostics company that discovers, develops and commercializes blood tests to deliver personalized medicine in oncology, announced today that the company raised $22 million through the sale of series F preferred stock and other securities. This amount includes capital previously raised through convertible debt and converted into equity in the series F financing. Existing Biodesix® stockholders provided the majority of the new capital.
The additional funds will be used for ongoing development of new products, including new diagnostic tests for clinical use with immunotherapies, continued expansion of the company’s commercialized tests, VeriStrat® and GeneStrat™, research and development relating to the drug ficlatuzumab, and other general corporate purposes. The novel immunotherapy tests in development measure serum proteins to stratify patients with advanced melanoma who are more or less likely to have longer durable clinical benefit with an anti-PD-1 immunotherapy checkpoint inhibitor. The company’s currently commercialized tests, VeriStrat and GeneStrat, are blood tests that are designed to provide fast, accurate results in 72 hours for patients with cancer. VeriStrat provides prognostic information on disease aggressiveness and predictive information that helps physicians guide therapy for patients with advanced non-small cell lung cancer (NSCLC). GeneStrat analyzes circulating tumor DNA and RNA with clinical utility across different tumor types to help guide treatment decisions.
“Biodesix is proud to be among the pioneers of blood-based diagnostics. By focusing on clinically actionable results for patients, we are developing and commercializing blood tests offering fast results that help physicians treat patients with the most effective therapies,” said David Brunel, Chief Executive Officer of Biodesix. “With the introduction of immunotherapies, it is more important than ever to invest in developing appropriate diagnostic tests for emerging therapies. Securing this investment allows us to continue to work for the patients we serve.”
Biodesix, VeriStrat and GeneStrat are trademarks or registered trademarks of Biodesix, Inc. All other trademarks referenced herein are property of their respective owners.
Biodesix® is a molecular diagnostics company advancing the development of innovative blood-based tests in oncology to enable precision medicine. Biodesix discovers, develops and commercializes multivariate protein and genomic diagnostic blood tests, including GeneStrat™ and VeriStrat®, that deliver results within 72 hours. The company is changing the standard of care by providing physicians with diagnostic tests for better therapeutic guidance, more accurate prognosis and enhanced disease monitoring to improve patient outcomes. At the forefront of precision medicine, Biodesix is developing new blood tests to identify patients who may benefit from immunotherapies. In addition to developing novel diagnostics independently, the company partners with biotechnology and pharmaceutical companies to develop companion diagnostics for use with therapeutic agents.