QCDx, Inc. Secures $7M in Financing for Innovative Cancer Diagnostics
QCDx, a cutting-edge diagnostics company based in Farmington, Conn., has successfully closed a $7 million financing round to support its innovative approach to detecting and characterizing circulating tumor cells (CTCs).
The funding consisted of $5.3 million in intermediate-term debt through a credit facility, combined with the conversion of $1.7 million in existing convertible notes into equity. This initial closing is part of a planned $15 million intermediate-term credit facility, with Sagittarius Advisors LLC acting as the administrative agent.
With these funds, QCDx aims to achieve several significant milestones, including the launch of a new diagnostic instrument, a breast cancer monitoring assay, proprietary multiplex immunofluorescence reagent kits, and a CLIA-certified clinical laboratory.
Under the leadership of Founder and CEO Dr. Triantafyllos Tafas, QCDx specializes in developing liquid biopsy technologies for the enrichment-free detection and proteomic profiling of CTCs. By providing oncologists with real-time insights into tumor heterogeneity, therapeutic targets, and disease progression, the company is at the forefront of empowering personalized cancer care.
QCDx is currently working on completing a breast cancer clinical validation study in collaboration with UCONN Health and plans to relocate to a new CLIA-certified laboratory facility in the near future.
Published by FinSMEs on 01/05/2025
