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EPR Archived News |
GenQual Announces Initial Closing Of Its First Preferred Equity Funding Round
Released on: November 22, 2011, 10:55 am GenQual announces initial closing of its first preferred equity funding round November 22, 2011- GenQual is pleased to announce initial closing of its first preferred equity round. Financial terms were not disclosed. This inaugural funding round allows GenQual to pursue proof-of-principle testing for its companion diagnostic approach for IL-6 mAb and other JAK/STAT inhibitors for autoimmune diseases and oncology indications. GenQual aims to prospectively identify responders for clinical-stage therapeutics to improve drug trial response rates and improve chances for drug approval. The round remains open for further funding. GenQual Founder and CEO Jonathan Mirich said, “This funding round allows GenQual to pursue its business development goals to deliver companion diagnostics for very expensive IL-6 monoclonal antibody treatment for autoimmune disease, chiefly rheumatoid arthritis, as well as certain oncology indications. It allows us to extend collaborative agreements for proof-of-principle testing. We are very excited about the possibilities in this space.” About GenQual Contact
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2012
