Azusa, CA (PRWEB) September 27, 2010
Personalized medicine startup MEDomics announced that it will be closing its first round of private placement on October 15, 2010. MEDomics, after having successfully raised over $960,000 in financing from undisclosed investors, announced today that it will be closing this round of financing. The firm is waiting for two additional capital infusions of $300,000 and $500,000 in October and will close this private placement after it is received.
Entering its third year of operations, MEDomics is seeing acceptance of its MitoDx clinical test for mitochondrial disease among the mitochondrial disease community. The firm received more clinical samples in the first full week of September than the entire month of July. “Between clinical revenue, collaborative R&D, and grant revenue, MEDomics is now at an operational break even," stated Craig Camp, MEDomics Chief Operating and Financial Officer.
According to Dr. Steve Sommer, Founder and President, “The MitoDx test based on Next Generation sequencing improves the utilization of blood tests to evaluate patients suspected to have mitochondrial diseases. Use of the more sensitive test will lead to better diagnosis there by removing the need for painful and expensive muscle biopsy and identifying patients who would have not been identified using conventional clinical tests.” The Next Generation mitochondrial genome test for mtDNA mutations can offer physicians: confirmation of a possible mitochondrial disease diagnosis, enable rational therapy, and provide prognostic information for enhanced familial risk counseling.
MEDomics, LLC (http://www.medomics.com) is a molecular diagnostic laboratory founded in 2008 by Steve S. Sommer, MD, PhD, with the mission of providing Mutation Expert-based Diagnosis ("MED") to support the physician in delivering personalized medicine based on analysis of the patient's genome ("omics"). MEDomics, located near Pasadena, CA is the first CLIA Certified Laboratory specializing in the clinical diagnostic application of Next Generation sequencing. The mutation experts at MEDomics provide unparalleled quality interpretation to aid the practicing physician.
426 N. San Gabriel Ave.
Azusa, CA 91702
Phone: (626) 804-3645