BioMarker Strategies, developer of SnapPath a novel automated tumor biopsy processing and testing system, has raised $1.7 million during a private funding round.
During this funding round that coincided with the Maryland Biotechnology Investment Incentive Tax Credit Program, the largest investment came from the Abell Foundation, a charitable organization dedicated to the enhancement of the quality of life in Baltimore, Maryland, including the promotion of job growth in the region.
"We are honored to have the Abell Foundation as our first institutional investor. We also welcome their support of our effort to develop a live tumor cell testing system designed to help oncologists choose the right drug therapy for their cancer patients," says K�ren Olson, CEO of BioMarker Strategies. "Even in this challenging economic environment, we found that investors are eager to support innovative biotech companies."
Writer: Walaika Haskins
Source: BioMarker Strategies