YONKERS, N.Y., Aug. 4 /PRNewswire/ -- Aureon Laboratories (formerly Aureon Biosciences) announced today that it has closed on a Series B round of venture capital financing, which secured $20 million for the Company. The group of investors participating in the financing included Atlas Venture, Sprout Group, Pfizer, and a consortium of European investors with expertise in the medical diagnostics industry.
Aureon Laboratories specializes in the creation of next-generation tissue analysis by integrating clinical, micro-anatomic and molecular profiles of disease. The initial application of this technology is in the field of prostate cancer. Aureon’s Prostate Px(TM), its first predictive test, is scheduled to be released later this year and will provide urologists with a unique insight into a patient’s chance of developing a cancer recurrence following the removal of the prostate. The information received through the use of ProstatePx(TM) will provide the physician with the knowledge and flexibility to customize treatment plans for each individual patient. Currently, there are no tests available that can predict a patient’s chance of experiencing a recurrence of their prostate cancer.
“With our Series B funding secured, Aureon will move aggressively toward concluding its clinical validation work and prepare for the commercial launch of its initial Prostate Px(TM),” stated Vijay Aggarwal, Ph.D., Aureon’s CEO and President. “Physicians and patients alike will benefit from this technology, which allows for the prediction of individual disease progression and addresses an important unmet clinical need in the diagnostics market. We continue to be encouraged by the positive feedback we are receiving from physicians, patients and investors.”
About Pfizer Strategic Investments Group
Pfizer Strategic Investments Group (PSIG) is part of Pfizer Inc, which discovers, develops and markets leading prescription medicines for humans and animals and many of the world’s best known consumer brands. PSIG invests in companies that develop or market technologies, products or services that could advance Pfizer’s commercial interests. For more information, visit http://www.pfizer.com.
About The Sprout Group
The Sprout Group, a venture capital affiliate of Credit Suisse First Boston, has helped finance more than 300 companies with combined sales exceeding $40 billion. The former members of Sprout Group’s Healthcare Technology venture team have founded a new venture organization, NLV Partners (New Leaf Venture Partners), which will invest primarily in firms focused on clinical-stage biopharmaceutical products, early-stage medical devices, and molecular diagnostics. In addition, NLV Partners will continue to manage the existing $800 million healthcare technology portfolio of Sprout Group. NLV Partners has offices in Menlo Park and New York.
About Atlas Venture
Atlas Venture is the leading international early-stage venture capital firm investing in communications, information technology and life sciences companies. With offices in Boston, London, Munich and Paris, Atlas Venture divides its investments between the United States and Europe.
Founded in 1980, Atlas Venture has organized six international funds, and currently manages $2.1 billion in committed capital. The Atlas Venture investment team is comprised of seasoned operating executives and career venture capitalists who have been deeply involved in the formation and development of more than 300 companies worldwide. For more information about Atlas Venture, go to http://www.atlasventure.com.
About Aureon Laboratories
Aureon Laboratories’ mission is to enable personalized patient care through predictive pathology. Aureon is developing a high throughput systems pathology technology platform to predict individual clinical outcomes through the interrogation of tissue. The platform generates and analyzes an integrated, digital view of clinical findings, tissue micro-anatomy and tissue molecular pathology to determine which combination of features predicts specified individual clinical outcomes. Allied with major cancer centers, Aureon operates a CLIA-certified laboratory that provides predictive pathology services to the practicing physician. The technology platform has also been applied in oncology to develop clinical tests that predict the progression of disease as well as the clinical response to specific therapeutic regimens for an individual patient. The platform has been utilized in several tissue types to further the development of new diagnostics and therapeutics. For more information about Aureon, go to http://www.aureon.com.
Aureon Laboratories
CONTACT: Vijay Aggarwal, PhD, President and CEO of Aureon Laboratories,Inc., +1-914-377-4050, or cell, +1-914-874-3367; or Media: Justin Jacksonof Burns McClellan, +1-212-213-0006, or jjackson@burnsmc.com
