A cancer cell

EXCLUSIVE REPORT – DURHAM, NC – Individualized treatment of cancers holds great promise for improving treatment of the too often deadly disease. So we think this is good news: CancerGuide Diagnostics, a startup that plans to improve the management of cancer by providing doctors and drug developers advanced molecular diagnostics enabling individualized treatment, has closed a $10.5 million equity raise.

CEO Myla Lai-Goldman confirmed the company closed the equity round and tells us it will issue more information about the financing shortly.

We recognize several of the principals listed in a filing on the raise with the U.S. Securities and Exchange Commission. They include Garheng Kong of Intersouth Partners, Clay Thorp of Hatteras Venture Partners, and David King of the Laboratory Corp. of America. The filing says the company has five investors so far.

According to the LinkedIn page of co-founder, President and COO Bill Haas, “CancerGuide is a high-value diagnostic product and services company that is actively licensing novel technology that may improve the quality of life for those iving with cancer. Through its commercial partnerships, CancerGuide provides a first-of-it’s-kind, scalable, development-to-market acceptance commercialization platform for emerging molecular oncology diagnostic technologies.”

He further says that it also provides companion diagnostic development services, such as tumor profiling and signature development services to pharmaceutical and biotech companies to increase the efficiency and effectiveness of their therapy pipelines.

The company plans to partner with R & D organizations, IVD manufacturers, managed care organizations, regulatory agencies, advocacy groups, academic institutions, and commercial laboratories to make personalized cancer treatment a reality.

Lai-Goldman tells us the company, founded in 2006, does not yet have a product on the market but will be developing and commercializing cancer tests and services in the personalized medicine space.

By Allan Maurer

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Tags: Biotech, cancer, CancerGuide Diagnostics, equity, financing, venture capital