Biodesix, Inc., a fully integrated molecular diagnostic company dedicated to personalizing medicine, today announced that the company increased the size of its recent offering of series E preferred shares in a follow-on sale. In addition to the $8.3 million of series E shares sold a month ago, the company brought in another $6.1 million, for total proceeds from the sale of series E preferred shares of $14.4 million. Existing shareholders of the company provided all funds and the offering will remain open to current shareholders until September of 2014.
The investment will be used for ongoing development of the company’s technology platform and expansion of sales and marketing efforts to support Biodesix’ first product, VeriStrat®. VeriStrat is a serum protein test that helps physicians guide therapy for patients with advanced non-small cell lung cancer (NSCLC).
Biodesix and VeriStrat are registered trademarks of Biodesix, Inc.
About Biodesix
Biodesix® is a molecular diagnostics company advancing the development of innovative products for personalizing medicine. The company provides physicians with diagnostic tests for earlier disease detection, more accurate diagnosis, disease monitoring and better therapeutic guidance, which may lead to improved patient outcomes. Biodesix discovers, develops and commercializes multivariate protein diagnostics based on their proprietary mass spectrometry-based discovery platform. VeriStrat, a multivariate serum protein test, is Biodesix’ first product developed with this technology. The commercially available test provides oncologists with information to help them select between erlotinib and single-agent chemotherapy for advanced lung cancer patients. Tests are processed in Biodesix’ CLIA-certified laboratory and results are reported in less than 72 hours. In addition to developing novel diagnostics independently, the company also partners with biotechnology and pharmaceutical companies to develop companion diagnostics to improve utility of therapeutic agents. For more information on VeriStrat, please visit www.VeriStratSupport.com. For more information about Biodesix, please visit www.Biodesix.com.
This press release contains statements that are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the Company’s inability to further identify, develop and achieve commercial success for products and technologies; the risk that the Company’s financial resources will be insufficient to meet the Company’s business objectives; uncertainties relating to the regulatory approval process and changes in relationships with strategic partners. We disclaim any intent or obligation to update these forward-looking statements.
Media Contacts:
Chempetitive Group for Biodesix
Kena Hudson or Kelly Quigley
510-908-0966
Biodesix@Chempetitive.com