Published: June 08, 2010
IncellDx Secures $3 Million in Series A Financing
MENLO PARK, Calif. - (BUSINESS WIRE) - IncellDx, Inc., a molecular diagnostics company dedicated to the
detection and monitoring of life threatening diseases, has closed $3
million dollars in Series A financing. Proceeds from the financing will
be used to advance the commercialization of IncellDx
products and to initiate the US clinical trial for HPV OncoTect,
a E6, E7 mRNA test that is currently CE marked.
Bruce Patterson, M.D., Founder and CEO of IncellDx said, "We
see enormous potential to initiate the US clinical trial for HPV OncoTect,
while at the same time expanding our existing commercial efforts for
Europe and Southeast Asia."
The US High Risk (HR) HPV testing market is estimated to be $300 million
dollars and growing at an annual rate of 14%. The consensus guidelines
published in ACOG (2007;197 (4); 346-355) recommend HR HPV testing for
cervical cancer screening in women over 21 who have abnormal PAP smears
and in women over 30 years of age when used in conjunction with a PAP
test.
One of the limitations of existing screening tests is lack of
specificity. "Since 92% of women spontaneously clear HR HPV infections
in 2 years, many women with positive test results will not proceed to
cervical cancer," said Dr. Bruce Patterson.
Since HPV OncoTect detects and quantifies the cellular
oncogenes responsible for triggering progression to cervical cancer, it
has the promise of improving specificity. The unique technology behind
HPV OncoTect, has broad application for many infectious
disease tests, which can be performed on the same platform.
About IncellDx, Inc.
IncellDx, Inc. is a molecular diagnostics company dedicated to the
detection and monitoring of life threatening diseases such as cervical
cancer, HIV/AIDs, hepatitis, and organ transplant rejection.
IncellDx, Inc.
Eric Hass, 1-650-777-7630
www.incelldx.com
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