SAN DIEGO, April 25, 2017 /PRNewswire/ -- AltheaDx, Inc. ("AltheaDx" or the "Company"), a commercial stage molecular diagnostics company specializing in the field of personalized medicine, today announced that it has raised $27 million in its Series D funding.
The Series D funding will provide operating capital as AltheaDx expands its sales force and scales up marketing efforts following the successful completion of its pivotal double-blinded randomized controlled neuropsychiatric clinical trial for which the company now awaits a local coverage determination from CMS. The Company has also initiated discussions with various partners to expand internationally.
"This financing is an important milestone in the continued commercialization of our IDgenetix® offering and the growth of AltheaDx," said Jorge Garces, President and Chief Executive Officer. "We now have strong clinical evidence further demonstrating the clinical utility of our testing in improving patient outcomes with clear health economic benefits and we will continue to work with payors to secure long-term reimbursement. This year will be an exciting and pivotal year for us."
AltheaDx is a commercial stage molecular diagnostics company which focuses on enabling physicians, managed care organizations, pharmaceutical companies and other healthcare entities to make personalized therapeutic decisions for patients. AltheaDx's IDgenetix® pharmacogenetic testing portfolio addresses some of the most prevalent clinical conditions in the United States, including cardiovascular disease, neuropsychiatric disorders and pain. AltheaDx is a CAP-accredited, CLIA-certified laboratory located in San Diego, CA. For more information, visit www.altheadx.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding the business strategy of AltheaDx. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that could cause actual levels of activity or performance to differ materially from those expressed or implied by these forward looking statements. These statements reflect the views of AltheaDx as of the date of this press release with respect to future events and, except as required by law, it undertakes no obligation to update or revise publicly any forward looking statements, whether as a result of new information, future events or otherwise after the date of this press release.
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SOURCE AltheaDx, Inc.