2/7/2012 6:25:45 AM
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Cynvenio Biosystems, Inc., a developer of rare cell isolation systems for biomedical research, personalized medicine and the molecular diagnostics of cancer, today announced that the National Cancer Institute (NCI) awarded two Small Business Innovative Research (SBIR) contracts to develop novel lung cancer tests based on the isolation of mutation-bearing Circulating Tumor Cells (CTCs) from whole blood. The NCI awarded Phase I funding of $195,000 for each contract, and Cynvenio will be eligible to apply for Phase II funding of $1.5 million (for each contract) when the Phase I objectives are successfully achieved. Cynvenio’s core technology was independently verified against clinical patient samples in 2011. The company also announced that it has received an additional $1.2 million from existing shareholders as part of a fully committed $2.0 million financing authorized by its board of directors.
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