By Jennifer Chiou
New York, Aug. 4 - Aureon Laboratories said it completed a $20 million series B round of venture capital financing.
Investors included Atlas Venture, Sprout Group, Pfizer and a group of European investors with expertise in the medical diagnostics industry.
Based in Yonkers, N.Y., Aureon specializes in the creation of next-generation tissue analysis by integrating clinical, micro-anatomic and molecular profiles of disease.
The company's first predictive test, Prostate Px is to be released this year and will provide urologists with a insight into a patient's chance of developing a cancer recurrence following the removal of the prostate.
"With our series B funding secured, Aureon will move aggressively toward concluding its clinical validation work and prepare for the commercial launch of its initial Prostate Px," president and chief executive officer Vijay Aggarwal said in a news release.
"Physicians and patients alike will benefit from this technology, which allows for the prediction of individual disease progression and addresses an important unmet clinical need in the diagnostics market."
| Issuer: | Aureon Laboratories
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| Issue: | Preferred stock
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| Amount: | $20 million
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| Round: | Series B
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| Investors: | Atlas Venture, Sprout Group, Pfizer, others
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| Announcement date: | Aug. 4
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