Friday, September 5, 2008

Pathwork Diagnostics Raises $20M

Sunnyvale-based Pathwork Diagnostics said Thursday that the firm has raised $20M in a financing round. The round was led by Abingworth, and also included prior investors Prospect Venture Partners, Advent Venture Partners, Novus Ventures, Venrock, and Versant Ventures. The firm, which develops molecular diagnostic tests focused on oncology, said the new funding follows the FDA approval of the firm's tumor diagnosis products. The firm said it will use the new funding for its commercialization programs.