Tethys Builds A Case For Pre-Diabetes Algorithm-Based Screening
This article was originally published in The Gray Sheet
Executive Summary
Diagnostics start-up Tethys Bioscience is laying the groundwork for its first product - a lab test it says will improve screening of the more than 50 million people at near-term risk for developing type-2 diabetes and help identify the best candidates for early-stage intervention
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Tethys Bioscience
The firm raises $33 million to expand commercialization of its PreDx diabetes risk score test, which helps identify those most at risk of developing the type 2 version of the disease. Announced July 21, the funding includes $23 million of "Series D" venture financing and a $10 million working capital loan. The privately held firm's Series D round now totals $48 million, including $25 million raised last fall (1"The Gray Sheet" Nov. 30, 2009). The PreDx multi-marker blood test debuted in January 2009 and is available through the company's CLIA-certified lab ("2The Gray Sheet" July 28, 2008). Over 15,000 PreDx tests have been ordered in the U.S. by physicians to date, according to Tethys