SOURCE: AltheaDx, Inc.

AltheaDx, Inc.

April 13, 2010 03:43 ET

AltheaDx Closes Series A Financing to Support Development of Companion Molecular Diagnostics

SAN DIEGO, CA--(Marketwire - April 13, 2010) -  AltheaDx, Inc., a privately held molecular diagnostics company and a leader in the development of companion diagnostics for biopharmaceutical partners, announced that it has completed a $6 million Series A equity and growth financing.

The financing was led by San Francisco based Telegraph Hill Partners (THP). "AltheaDx is a well respected, revenue stage molecular diagnostic development services company with a well established suite of intellectual property," said Matt Mackowski, Chairman and Managing Director of Telegraph Hill Partners. "THP looks forward to working with the experienced management team at AltheaDx to fully realize the commercial potential of key diagnostic products in oncology and infectious diseases."

 "We are very excited about the growth prospects for AltheaDx," said Magda Marquet, Ph.D., Founder and co-CEO of AltheaDx. "This Series A capital will support our existing biopharma partnerships that are focused on the development of biomarkers and companion diagnostics which will be instrumental in bringing safer therapeutics to patients." AltheaDx currently has six development programs underway with biopharma partners. 

"The need for biomarkers and companion diagnostics has never been more urgent as the biopharma industry is concentrating significant resources on the development of targeted therapeutics, specifically in oncology," stated François Ferré, Ph.D., Founder and co-CEO of AltheaDx. "As more and more therapeutics focus on a specific gene abnormality, it becomes essential to know which patient carries it to enhance the chance of a positive therapeutic response." 

About AltheaDx:
AltheaDx, based in San Diego, CA, is bringing theranostics into clinical use. The goal of AltheaDx is to reduce the time, risk, and cost of therapeutic development for our partners and to provide a clear path for development and commercialization of high-value companion diagnostic tests. Additional information can be found at www.altheadx.com.

About Telegraph Hill Partners:
Telegraph Hill Partners, based in San Francisco, CA, is a private equity investment firm specializing in life science and medical device businesses. The firm targets investments in private companies that demonstrate strong financial performance and innovative products or services. Additional information can be found at www.thpartners.net.

Contact Information

  • Contact:
    AltheaDx
    Cyrus K. Mirsaidi
    Vice President, Business Development
    (858) 882-0220 x 325
    Email Contact