DiaCarta, Inc Closes $8 Million Series A Round for Development and Commercialization of Precision Molecular Diagnostics

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Jan 09, 2015, 05:50 ET

HAYWARD, California and SHANGHAI, Jan. 9, 2015 /PRNewswire/ -- DiaCarta, Inc., a privately-held biotechnology company raised $8 million in Series A financing from BVCF (BioVeda China Fund). Proceeds from Series A financing will be used to expand the product portfolio and support global commercialization. Dr. Weixin Xu of BVCF will join DiaCarta board of directors.

DiaCarta has CE/IVD assays for highly sensitive mutation detection in EGFR, KRAS, NRAS, BRAF, PIK3CA and JAK-2. QClamp™ mutation detection assays utilize a novel xeno-nucleic acid (XNA) clamping technology to suppress amplification of wild-type DNA allowing selective amplification of mutant DNAs in real-time PCR. Mutant DNAs present at less than 0.1% can be detected. The sensitivity and specificity of QClamp™ make it superior to NGS and ddPCR.

DiaCarta's QuantiVirus® HPV E6/E7 mRNA tests detect HPV E6/E7 mRNA in cervical and oral cancer. Assays are based on branched DNA signal amplification technology, performed without RNA purification or RT-PCR and do not require a clean room environment. Assays are CFDA (Chinese FDA) and CE/IVD cleared.

"We look forward to supporting the parallel development of precision molecular diagnostic tests in the US and China. These novel technologies offer an attractive option to address the growing needs of personalized medicine and companion diagnostics." said Zhi Yang, general partner at BVCF.

"We seek to be at the forefront in the development of non-invasive tests for detection and monitoring of tumor mutations in human body fluids. We look forward to expanding our product offerings and seeking regulatory approvals in the EU, China and eventually the US." said Aiguo Zhang, Ph.D., President & CEO of DiaCarta, Inc.

About BVCF
BVCF (http://bvcf.com/, formally known as BioVeda China Fund) is a growth capital focused private equity fund specializing in China Life Sciences and Healthcare industry. Headquartered in Shanghai, BVCF primarily focuses on equity investments in growth-stage companies in the field of Pharmaceuticals, Biotechnology, Traditional Chinese Medicine, Medical Devices, Healthcare Services, Industrial and Environmental Biotechnology.

About DiaCarta, Inc.
DiaCarta is a leading Translational Genomics and Molecular Diagnostics company located in the San Francisco Bay area, pioneering novel molecular diagnostics technologies.

SOURCE DiaCarta, Inc.