OncoGenome Sciences, a Belgium-based firm which operates its US headquarters in Durham, closed on a $15 million round of venture capital on Wednesday.
OncoGenome is developing a variety of diagnostic testing services and kits based on non-invasive genomics.
The company, which was formed last year, will keep its research and development operations in Belgium. Its clinical and business development teams will be based in Durham.
Among the areas being explored right now are tests to detect cancer at an earlier stage and with a higher degree of accuracy as well as predicting and monitoring an individual patient’s response to therapy to improve treatment decisions.
Bank Brussels Lambert SA lead the round along with PolyTechnos Venture-Partners of Germany, Life Science Partners of the Netherlands, and Belgium-based firms Technowal, Meusinvest and S.I.B.L.
“The early diagnosis of the major cancer types has a large market potential,” said Alain Parthoens of Bank Brussels Lambert in a statement, “and OncoGenome Sciences is poised to become a significant player in the field.”
Dr. Herman Spolders, a former vice president of business development and operations at Virco, a biotechnology firm based in Belgium. Spolders has more than 25 years of experience in biotechnology, founded the company.
Three molecular oncology scientists at Johns Hopkins University are working with OncoGenome. Pilot clinical testing has taken place at Johns Hopkins, according to OncoGenome.
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