October 6, 2017

Farmington startup nets $4M to test diagnostic cancer test

PHOTO | Contributed
PHOTO | Contributed
Bioarray CEO and founder Marcia Fournier .

Farmington's Bioarray Genetics, a personalized medicine startup, will use $4 million in new financing to bring its first product for oncology testing to clinicians.

Housed in UConn's Technology Incubation Program (TIP) in Farmington, Bioarray uses molecular diagnostic techniques to develop predictive cancer treatment testing.

The startup said Thursday it has received the Series B equity financing from Quark Venture and GF Securities through their Global Health Science Fund and Connecticut Innovations, the state's quasi venture capital arm.

The product, dubbed BA100, is a diagnostic test for breast cancer that has the potential to spare patients exposure to ineffective chemotherapy and unnecessary toxicity, said Bioarray's CEO and founder Marcia Fournier. The developing technology also holds the promise of reducing healthcare costs and improving patients' quality of life, she said.

"Bioarray's clinically validated tests are unique; there is nothing else on the market that addresses this need," said Karimah Es Sabar, CEO of Quark Venture and director of GHS Fund.

Established by Quark Venture Inc. and GF Securities in late 2016, the Global Health Science Fund is a venture fund that invests globally in a diversified portfolio of innovative biotechnology and health sciences companies that are addressing unmet medical needs through innovations in drug development, medical devices, health IT and emerging technologies.

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