KIYATEC Inc., a company dedicated to accurately modeling and predicting cancer patient response to drug therapies, announced the initial $3 million closing of its Series B2 financing round. The round was led by VentureSouth and included LabCorp.
The financing will go to KIYATEC’s ongoing clinical study, 3D-PREDICT. The test analyzes a patient’s live cancer cells, grown in a KIYATEC lab, to determine how they respond to guideline-recommended cancer drugs. The 3D-PREDICT study seeks to validate the predictive accuracy of the test and correlate response predictions to clinical outcomes among patients with newly diagnosed and relapsed ovarian cancer, glioblastoma, and certain rare tumors.
“The validation and confidence by our investors, coupled with the exciting progress of our clinical trials, puts us on the path toward the next phase of growth and development,” KIYATEC CEO Matthew Gevaert said in a news release.
Last month, KIYATEC was one of 20 companies recognized by Congress as part of the 2019 University Innovation & Entrepreneurship Showcase. KIYATEC added three clinical sites to the 3D-PREDICT study in the first quarter of 2019 and plans to add additional sites throughout the year.