Banking & Finance  October 9, 2015

Biodesix reels in $8.6M in new funding to fuel test sales, development

BOULDER — Diagnostic test-maker Biodesix Inc., has raised $8.6 million in new funding for continued support of sales and marketing of its Veristrat product, as well as development of new tests for immunotherapy.

Chief executive David Brunel said Friday that the new funding comes from existing investors. The cash infusion comes just a few months after Boulder-based Biodesix tacked on $11 million to an ongoing Series E equity round. The new funding comes in the form of convertible debt.

“We’re kind of watching the markets to see what’s happening there and monitoring our progress before settling on what the price (of new equity) would be,” Brunel said.

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As immunotherapies become more prevalent in cancer treatment, Biodesix’s line of blood tests are aimed at identifying which cancer patients could best benefit from various cancer drugs, since most cancer drugs work only on specific sets of the population. Simply, the tests help get the right drugs to the right patients.

Biodesix, which has raised more than $100 million since its founding in 2005, has so far gone to market with a pair of tests, including Veristrat, which is used to guide treatment in non-small cell lung cancer.

The company doesn’t disclose revenue. It has grown to about 120 employees, about half of which are in Boulder. Brunel said the firm is always in “hiring mode” but isn’t rapidly growing staff right now. Rather, the focus is on getting new products to market and ensuring the quality of the existing ones.

BOULDER — Diagnostic test-maker Biodesix Inc., has raised $8.6 million in new funding for continued support of sales and marketing of its Veristrat product, as well as development of new tests for immunotherapy.

Chief executive David Brunel said Friday that the new funding comes from existing investors. The cash infusion comes just a few months after Boulder-based Biodesix tacked on $11 million to an ongoing Series E equity round. The new funding comes in the form of convertible debt.

“We’re kind of watching the markets to see what’s happening there and monitoring our progress before settling on what the price (of new…

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