ClevelandDx Stock

clevelanddx.comHealthcare / BioTech & PharmaFounded: 2013

Cleveland Diagnostics, Inc. is a clinical-stage biotechnology company that focuses on developing next-generation innovative diagnostic tests for the early detection of various diseases, with a particular emphasis on cancer.Cleveland Diagnostics introduces a new category of straightforward blood tests designed to detect the presence or absence of diseases. Their flagship product, IsoPSA, addresses the urgent need for a more concise method to help avoid unnecessary prostate biopsies. Leveraging its unique SIA-based technology platform, Cleveland Diagnostics aims to transform cancer diagnosis into a less daunting prospect. The company facilitates prompt and potentially lifesaving medical decisions by providing physicians and patients with more accurate cancer insights at earlier stages.

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News Highlights

Cleveland Diagnostics Completes $75M Financing to Advance its Early-detection Oncology Testing Platform

Cleveland Diagnostics, a pioneer in the development of innovative diagnostic tests for early cancer detection and a portfolio company of Cleveland Clinic, has successfully secured over $75 million in growth capital financing. This substantial financial boost, led by Novo Holdings—a premier global investor in the life sciences sector—is set to propel the commercialization of Cleveland Diagnostics' IsoPSA prostate cancer test, as well as to expand its array of non-invasive diagnostic tests. The IsoPSA test, a blood test designed to refine prostate cancer risk assessment and support biopsy decision-making, stands at the forefront of the company's efforts to address the critical unmet medical needs of patients with prostate cancer. With prostate cancer diagnoses on the rise, the demand for accurate, early detection methods like IsoPSA is more urgent than ever. This funding will not only accelerate the commercial reach and development of IsoPSA but also pave the way for the expansion of Cleveland Diagnostics’ test portfolio into additional cancer indications. Furthermore, the inclusion of Noel Jee from Novo Holdings on the Cleveland Diagnostics Board of Directors marks a significant step forward in the company's mission to revolutionize cancer diagnostics, emphasizing patient-centric care and the potential to enhance treatment outcomes while reducing healthcare costs.
Updated on: Jun 24, 2024

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