This article was originally published in The Gray Sheet
Diagnostics developer raises $30 mil. from Swartz Private Equity, LLC, to be drawn by Lexon as needed over the next three years. Tulsa, Oklahoma-based Lexon, which owns the exclusive worldwide rights to the Ebaf Assay blood test to screen for colon cancer and the Telomerase Assay blood test to screen for lung cancer, will use the funds for "ongoing product development and initiation of FDA clinical trials," the firm states in an Aug. 21 release. Current development efforts "are focused on expanding the battery of monoclonal antibodies for each test, producing prototype blood screening test kits, performing multiple blood tests on known cancer patients, and statistically evaluating test results for presentation to the FDA," Lexon reports
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