Agendia Secures 23 Million E Series Financing

A world leader in molecular cancer diagnostics, Agendia has successfully closed their E series financing and has raised US$ 23 million as an investment. The Dutch molecular cancer diagnostics company further announced that the financing round was led by an undisclosed family investment firm who has contributed around more than half of their E Series investments. Agendia further claimed that the success of this financing was due to the increasing demand of MammaPrint(R) in the United States of America and from many US payors who were ready for reimbursement.

MammaPrint is the first IVDMIA that has been okayed by the Food and Drug Administration of the United States of America and has cleared all the clinical and analytical validation to ensure utmost safety to the patients. Currently, there are other assays available in the market, but none have gone through the strict FDA clearance process, except MammaPrint which detects early metastasis in patients that helps doctors to assess the benefits of chemotherapy and other medical information.

Agendia has a clear picture of what their market status is and clearly aware of the success of MammaPrint they have successfully completed their E series financing round. Additionally, two independent firms have also supported Agendia with an investment of $1 million each, and the rest was handled by Agendia’s current investor base.

Agendia has announced that the proceeds from this E Series financing will be used for speedy commercialization of MammaPrint in the United States of America, so that more and more people suffering from breast cancer can take advantage of this diagnostic technology to receive proper treatments.

Talking about the success of this E Series financing at the UBS Global Life Science Conference at the Grand Hyatt in New York, Gertjan van der Baan, Board member of Van Herk Group, Agendia’s largest investor, said that they are excited to be a part of Agendia’s growth and success.