Clarient closes $40M for cancer diagnostics
Clarient, an Aliso Viejo, Calif.-based provider of cancer diagnostic and identification tests, has brought in $40 million from Oak Investment Partners. The first $30 million chunk of financing came in March, and the company could score $10 million more from the firm depending on terms of the deal.
So far, Clarient has used the money to pay back shareholder Safeguard Scientifics. Things seem to be looking up, with the public company reporting $22.4 million in first quarter revenue, up 41 percent from last year. This marks the 19th quarter in a row that revenue has been on the upswing.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.