Arcxis pulls in funds to diagnose gene-linked diseases
Arcxis Biotechnologies, a Pleasanton, Calif. biotech tool maker focused on DNA analysis — especially for diagnostic purposes — just closed an undisclosed sum (higher than $8 million) toward an anticipated $15 million second round of funding for commercial development of its lead product (slated to launch two months from now). The company’s technology gauges changes in patients’ genes to detect infectious diseases and other dangerous health conditions; the product in question is used to prepare blood for specific diagnostic tests.
Claremont Creek Ventures led the round, joined by Alafi Capital and Kaiser Permanente Ventures. Arcxis already raised $5 million in a first round of financing, including $3 million in grants from the U.S. Department of Homeland Security, the National Institute of General Medical Sciences and Roche Molecular Systems. The company is partnering with Homeland Security to produce a 20-minute diagnostic test for the presence of bacterial and viral agents in a patient’s blood.
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