A Pittsburgh-based life sciences company has raised $1.4 million in Series B funding for its work on a next-generation cancer diagnostic tool.
Cernostics said Tuesday the funding included original investors Pittsburgh Life Sciences Greenhouse, Geisinger Health System and Novitas Capital. The $1.4 million in Series B funding announced Tuesday will go toward the commercialization of TissueCypher: Barrrett’s, which Cernostics said “uniquely quantifies whole slide digital images, providing greater information and accuracy compared to traditional subjective tissue diagnostics.”
Cernostics said it has raised more than $6 million in grants and investment so far for its work to fight esophageal cancer.
“Closing our Series B round is a significant achievement for Cernostics,” CEO Mike Hoerres said in a prepared statement. “We have now completed early clinical validation of our lead product, a diagnostic test predictive for the development of esophageal cancer in high-risk patients with Barrett’s Esophagus. This funding enables us to take our next steps towards commercialization, both for our lead Barrett’s Esophagus product, and the other products in our pipeline.”