Wednesday, March 28, 2012

Strand Diagnostics Raises $30 Million From NantWorks

Los Angeles-based NantWorks, the business investment and development firm run by billionaire Patrick Soon-Shiong, has invested $30M in Strand Diagnostics, a developer of a diagnostic and DNA testing service for diagnosing cancer. According to the two, the funding will be invested over the next 3 years, and will go towards Strand Diagnostics' growth, to scale its operations infrastructure, and expand sales and marketing. Strand Diagnostics is based in Indianapolis, Indiana. Strand Diagnostics is currently applying its system to ensuring surgical biopsy samples are being properly tied to patients. The firm's most popular offerings are for breast biopsy and prostate biopsy. More information »