Tethys Bioscience

The firm raises $33 million to expand commercialization of its PreDx diabetes risk score test, which helps identify those most at risk of developing the type 2 version of the disease. Announced July 21, the funding includes $23 million of "Series D" venture financing and a $10 million working capital loan. The privately held firm's Series D round now totals $48 million, including $25 million raised last fall (1"The Gray Sheet" Nov. 30, 2009). The PreDx multi-marker blood test debuted in January 2009 and is available through the company's CLIA-certified lab ("2The Gray Sheet" July 28, 2008). Over 15,000 PreDx tests have been ordered in the U.S. by physicians to date, according to Tethys

More from Archive

Final Chance To Have Your Say: Take Our Reader Survey This Week

 
• By 

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

Shape Our Content: Take The Reader Survey

 
• By 

Editor’s note: We are conducting a survey to better understand our subscribers’ content and delivery needs. If there are any changes you’d like to see in coverage topics, content format or the method in which you receive and access Medtech Insight, or if you love it how it is, now is the time to have your voice heard.

Patients With Movement Disorders Will Benefit From Medtronic’s Expanded MRI Labeling For DBS

 
• By 

Medtronic announced it received expanded MRI labeling for its DBS systems, which is critical, given that almost 70% of all DBS-eligible patients will likely need an MRI at some point in their care, says Ashwini Sharan, CMO for Medtronic Neuromodulation.

Podcast: Lung Life AI CEO Shares Regulatory And Reimbursement Journey For Lung Cancer Diagnostic

 

In this episode, Medtech Insight reporter Natasha Barrow speaks to LungLife AI CEO Paul Pagano. Lung Life AI is a US-based AIM-listed medical technology company that has developed a liquid biopsy test for the early detection of lung cancer called Lung LB. Pagano runs through the highlights of Lung Life AI journey to date and its future ambition for a strategic partnership. He also provides advice to similar diagnostic companies seeking reimbursement andcompliance with the US FDA Lab Developed Test ruling.

More from Medtech Insight

Investors Urged To Prioritize Patient Engagement To Ensure Clients’ Products Succeed

 

To succeed in medtech, investors must focus on patient outcomes. Gilde Healthcare says involving patients boosts product effectiveness, access and market success — making it a smart strategy in today’s strained healthcare systems.

Corify Care, Mayo Clinic Join Forces To Advance AI-Driven Global Cardiac Mapping Platform

 
• By 

Corify Care’s CEO said the company aims to submit its 510(k) application to the US FDA by year-end, targeting market clearance in 2026. The company hopes its collaboration with the Mayo Clinic will help speed adoption of ACORYS, a noninvasive mapping technology for use in complex cardiac ablations.

European Hospital Products Sourced Through ‘System That Rewards Exploitation,’ Watchdog Finds

 
• By 

While European sustainability directives CSDDD and CSRD are still in the process of adoption, environmental group Swedwatch claims the EU's procurement framework is devoid of accountability.