BOULDER — Biodesix Inc. has raised $7 million on a follow-on sale of its offering of series F preferred shares, bringing the total amount raised for the round to $24.8 million.
The Boulder-based diagnostic test-maker had raised nearly $17.8 million in February through the Series F funding round. A preferred stock is a class of ownership in a corporation that has a higher claim on its assets and earnings than common stock.
The additional capital was provided by existing Biodesix investors and will be used for the development of new diagnostic tests for clinical use with immunotherapies — treatments that use certain parts of a person’s immune system to fight diseases such as cancer. Biodesix’s blood tests identify which cancer patients could best benefit from various cancer drugs, because most cancer drugs work only on specific sets of the population. In essence, the tests help get the right drugs to the right patients.
The money also will be used to expand the company’s offering of its commercialized tests, Veristrat and GeneStrat.