Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Integrated Diagnostics debuts with $30 million funding: Start-up diagnostics developer debuts with the support of a $30 million "Series A" financing round, led by InterWest Partners. The Seattle firm is developing genomic and proteomic technologies to identify organ-specific proteins and enable the diagnosis and prognosis of a variety of diseases. Areas of focus include personalized and preventive diagnostics for cancer, diabetes and Alzheimer's disease. "Integrated Diagnostics' research enabling technologies will allow us to cut in half the standard development times for diagnostics," said company founder Leroy Hood. Launched Oct. 14, Integrated Diagnostics is an outgrowth of a public-private partnership between the nation of Luxembourg and several American research institutions, including the Institute for Systems Biology. Hood is the current president of ISB, inventor of the DNA sequencer, and previous founder of more than a dozen biotech firms, including Amgen and Applied Biosystems