NanoMolecularDX Announces Closing of $1 Million in Seed Funding

LEE —NanoMolecularDX, LLC (NMDX) announced the closing of $1 million in seed funding executed through a private placement. The offering was for preferred stock of the company. The proceeds will be used to finance the commercialization of the NMDX’s diagnostic tests, the development of additional diagnostic clinical trials, and expansion of operational capabilities.

“The closing of our seed-funding round is an important milestone for our company,” said NMDX President and CEO Patrick Muraca. “The capital we raised allows NMDX to develop and finance our diagnostic commercialization strategy and demonstrates the confidence our investors have in our intellectual property and business model.”

NMDX is executing a commercialization strategy for three proprietary tests, including fatty acid synthase, CA-IX, and HER-2/neu (HER-2). The company is already generating revenue through sales of its HER-2 blood-testing kits, through its acquisition of Nuclea Biotechnologies. The serum HER-2/neu is a simple, non-invasive test that measures the presence of the HER-2 protein in the bloodstream for patients with metastatic breast cancer. Those who overexpress HER-2/neu tend to have a worse prognosis and more aggressive, chemotherapy-resistant cancer. Measuring changing levels of the protein can help doctors assess the stage of cancer. This information can also serve as an early prognostic tool, helping to get patients the most effective treatment courses at the right time.

Headquartered in Lee, NMDX is a healthcare company focused on the development of IVD and RUO diagnostic assays and kits for the early detection and monitoring of biomarkers in oncology and endocrinology.