NUCLEA BIOTECHNOLOGIES RAISES $4.2 MILLION IN SERIES D FUNDING ROUND
Pittsfield, MA – Nuclea Biotechnologies, Inc. today announced that it has raised $4.2 million in its Series D funding round. The company is planning to close the $5 million dollar Series D offering by May 31st. The new funds will be used for the commercialization of Nuclea’s Fatty Acid Synthase (FAS) assays along with other clinical assays, including the in vitro diagnostic her-2/neu ELISA assay which forged Nuclea’s recent partnership with WILEX Inc.
Since its creation in 2005, Nuclea has raised at total of $40.3 million. The Pittsfield-based company is focused on the development, clinical validation and commercialization of novel diagnostic and prognostic assays. The new funds will be used for marketing, strengthening strategic partnerships, and building hospital relationships.
"This is a new era for Nuclea Biotechnologies," said Patrick Muraca, President & CEO of Nuclea. "Now, we move from the development stage into the commercialization stage. This is a key milestone in the trajectory of Nuclea’s growth; all of our previous successes were working towards this transition into the commercialization of our diagnostic assays."
"This round of financing puts us in a good position to capitalize on the Company’s commercial opportunities," added Nuclea CFO Robert Pierce. "We expect commercial sales to begin in the second quarter from our partnership with WILEX Inc., to be followed soon after by sales from our own lab developed tests."
Nuclea Biotechnologies, Inc. -- is headquartered in Pittsfield, Massachusetts with additional operations in Worcester, Massachusetts. Nuclea has developed and is commercializing unique diagnostic tests for colon, breast, leukemia, lung and prostate cancer. Nuclea also performs research leading to novel molecular oncology companion diagnostics for the pharmaceutical and biotechnology industries. http://www.nucleabio.com
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