This article was originally published in The Gray Sheet
Executive SummaryDiagnostics firm raises $4 mil. May 30 in $3.50-per-share private offering. Proceeds will be used to finance marketing of firm's next-generation VAP (Vertical Auto Profile) cholesterol test. The test, which requires five drops of blood obtained via finger-stick, increases accuracy of cardiovascular disease detection to about 90%, compared to 40% using routine lipid panels, the company claims. The VAP test, which is priced comparable to standard cholesterol tests, is manufactured at the firm's Birmingham, Alabama facility. Participating in the round were Technology Funding Group and Compass Venture Partners
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