Xconomy Boston

AdvanDx Lands $8,000,000 Series C Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=50ba92b4-15d1-4704-901f-20d8b4d674a0&Preview=1
Date
8/18/2009
Company Name
AdvanDx
Mailing Address
10A Roessler Road Woburn, MA 01801
Company Description
AdvanDx develops and markets molecular-based, in vitro diagnostic tests that aid in the diagnosis and prevention of infectious diseases. The rapid test results are available in hours instead of days and allow healthcare providers to make more informed therapy decisions early and improve both the quality of patient care and overall hospital operations.
Website
http://www.advandx.com
Transaction Type
Venture Equity
Transaction Amount
$8,000,000
Transaction Round
Series C
Proceeds Purposes
The funding will be used to fund the expansion of AdvanDx’s molecular diagnostics product offering as well as its international sales and marketing activities.
M&A Terms
Venture Investor
SLS Ventures
Venture Investor
Undisclosed