Cernostics Inc., which is developing cancer diagnostics, has raised $1.4 million in Series B funding as it advances a test for esophageal cancer.
Original investors participating in the round include Geisinger Health System, Novitas Capital and Pittsburgh Life Sciences Greenhouse. Cernostics has now raised more than $6 million including grants and investments, it said. Valuation wasn’t disclosed in a news release.
Cernostics, based in Pittsburgh, plans to use the financing to further develop its lead product, a test to predict the development of esophageal cancer in high-risk patients with Barrett’s Esophagus. The technology analyzes whole slide digital images with multiplexed fluorescence, which the company says will provide greater accuracy and more information than traditional tissue diagnostics.
In August 2012 Ben Franklin Technology Partners of Northeastern Pennsylvania said it had approved loans and matching grants to several companies, including $100,000 for Cernostics.