Matritech raises $6.56 million to step up IVD (in vitro diagnostic) work:
This article was originally published in Clinica
Matritech, of Newton, Massachusetts, has sold common stock and warrants in a private placement that raised $6.56m, or $5.85m net. The diagnostic proteomics company says the funds will be used to increase marketing and sales efforts, as well as for ongoing in vitro diagnostic development, clinical trials, working capital, capital expenditures and general corporate purposes. Matritech has two approved products for diagnosing and monitoring bladder cancer, and has discovered proteins associated with cervical, prostate, breast and colon cancer.