Exosome Diagnostics Inc announces that it has raised $20 million co-led by NGN Capital and Forbion Capital Partners to further develop and commercialize a series of next-generation body fluid based oncology diagnostics through its proprietary, exosome based technology platform. The trans-atlantic Company is establishing R&D and service operations in New York and Munich.
Exosomes are lipid-covered microvesicles shed by solid tumors into bodily fluids, such as blood and urine. Tumor exosomes contain nucleic acid sequences of a cancer’s genetic material. In published studies, Exosome Diagnostics has demonstrated the ability to extract exosomes from the blood and urine of cancer patients, and detect with high sensitivity and specificity, key genes and gene mutations associated with a variety of cancers.
Exosome based molecular diagnostics allow for minimally invasive testing of cancer specific genes from standard blood and urine samples. This permits improved disease stratification and monitoring patient response through a course of treatment, leading to more precise understanding of drug efficacy and disease recurrence.
“We believe our exosome based technology offers a new medium for reproducible, high-quality extraction of RNA from blood,” stated James McCullough, CEO of Exosome Diagnostics Inc. “Having NGN and Forbion, lead this financing round, provides us with the strong global network necessary to accelerate product development and provide a comprehensive molecular companion diagnostic program to pharmaceutical partners.”
“Exosome Diagnostics has access to a proprietary and novel diagnostic platform capable of transforming today’s diagnostic field. We believe it has the potential to become an integral part of a safer and more effective disease management,” said Dr. Georg Nebgen, Managing General Partner at NGN Capital.
“The exosome technology platform combines great characteristics for cancer diagnostics and patient monitoring and is well positioned to have a major impact on cancer disease management in the future. We are delighted to join this experienced management team and are excited that this new platform will also be developed and rolled out in Europe using the proceeds of this financing round,” said Geert-Jan Mulder, MD, General Partner at Forbion Capital Partners.
Source: Exosome Diagnostics