A diagnostics company in San Diego has raised $30 million in Series C financing to help commercialize its new technology for cancer research.
Epic Sciences Inc. received the preferred stock financing from three repeat investors – Domain Associates, Roche Venture Fund and Pfizer Venture Investments – from which Epic received $13 million in a previous round, as well as acquiring two new investors this round, Arcus Ventures and RusnanoMedInvest.
President and CEO Murali Prahalad, said the funds will be primarily used get FDA clearance for multiple clinical studies as well as the development and global availability of its tests.
In a separate statement, Epic named Greg Lucier, the former chairman and CEO of Carlsbad-based Life Technologies, as a new director and board chairman. Lucier managed the $15.4 billion sale of Life Technologies to Thermo Fisher Scientific (NYSE: TMO) earlier this year. Prahalad and Lucier were former colleagues at Life Technologies, and Lucier is expected to help guide Epic’s strategy in commercialization.
To read more coverage on this story, see the Aug. 4 print edition of the San Diego Business Journal.