|By Marketwired .||
|April 29, 2014 07:30 AM EDT||
SEATTLE, WA -- (Marketwired) -- 04/29/14 -- Indi® (Integrated Diagnostics), a molecular diagnostics company pioneering the use of blood-based proteomic tests, announced today it has raised $30.25 million from the closing of its Series B and $17 million in non-dilutive debt financing provided by Life Sciences Alternative Funding LLC (LSAF). The financing round was led by Baird Capital and joined by Indi's existing investors, InterWest Partners and the Wellcome Trust. Indi's first product, Xpresys Lung, is a breakthrough, molecular diagnostic blood test developed to provide physicians with an objective tool to address a major medical dilemma -- the management of indeterminate lung nodules. The mixed equity and debt investment will be used to further commercialize Xpresys, which launched in late 2013, and to develop additional proteomic blood tests using Indi's technology platform.
"Indi's Series B represents our investors and management's belief Xpresys Lung has the potential to achieve blockbuster status," said Albert A. Luderer, Ph.D., chief executive officer, Indi. "Xpresys Lung was designed to aid physicians in managing lung nodules -- helping to eliminate unnecessary invasive procedures on benign conditions; enabling payers to improve outcomes and save millions of dollars in unnecessary procedures; and minimizing patient anxiety. We are very excited to welcome our new backers, Baird Capital and LSAF. The partners at both firms have long track records of investing in medical diagnostics companies."
As part of the financing, Michael Liang, Ph.D., partner with Baird Capital's venture capital group, joins Indi's board of directors. Indi also announced that Alexandria Venture Investments, the strategic venture arm of Alexandria Real Estate Equities, Inc., has joined the Series B as an investor.
"We are very pleased to help Indi take their early commercial success with Xpresys Lung to the next level," said Liang. "Indi has taken their innovative proteomic technology and applied it to a massive unmet need: the high costs associated with over-diagnosing lung nodules. Their strategy is a perfect fit for Baird Capital's focus on investing in companies who produce innovative technologies that address expanding market needs."
Data from two studies supporting the technology behind Xpresys Lung were published in Science Translational Medicine on October 16, 2013. Click here to access the full study.
"We believe Xpresys Lung will play a significant role in helping physicians more effectively manage lung nodules -- and Indi's technology for blood-based diagnostics has the potential to become an important tool in multiple areas of health care," said Steve DeNelsky, president, LSAF. "Our aim is to provide non-dilutive capital to outstanding commercial-stage life sciences companies in medical devices and diagnostics. We are delighted to play a role in Indi's success."
Today, it is estimated millions of pulmonary nodules are discovered each year; after traditional assessment protocols, which include biopsies and surgeries, most of these nodules are classified as benign. Xpresys Lung allows for the non-invasive assessment of pulmonary nodules in the 8-30 mm size range; traditionally, nodules of this size are associated with significant diagnostic uncertainty. Xpresys Lung provides physicians with objective information to identify nodules with a high probability of being benign, potentially reducing unnecessary invasive procedures that may be risky for the patient and costly to the healthcare system. In developing the test, researchers at Indi followed an innovative strategy: Xpresys Lung is designed only to assist physicians in identifying lung nodules likely to be benign, and is not intended to assist physicians with the identification of lung cancer.
The blood test measures the relative abundance of proteins from multiple pathways associated with lung cancer, using a highly sensitive analytic technique called multiple reaction monitoring mass spectroscopy (MRM-mass spec).
Indi (Integrated Diagnostics) is redefining molecular diagnostics and creating powerful new tools for physicians to non-invasively assess and more effectively manage complex diseases to improve patient outcomes, reduce complications, and lessen costs to the healthcare system. With the company's first breakthrough test, Xpresys Lung, which measures multiple blood proteins and identifies lung nodules with a high probability of being benign, physicians have the potential to reduce risks and the need for unnecessary invasive procedures.
The company was co-founded in October 2009 by systems-biology pioneer Dr. Lee Hood, who recently received the National Medal of Science from the U.S. government. His groundbreaking research is based on a systems biology approach, which measures hundreds of protein biomarkers found in blood to report on the physiological state of the body's 50 major organs, such as the lungs.
Investors include Baird Capital, InterWest Partners, Life Sciences Alternative Financing and the Wellcome Trust. Foundational intellectual property is exclusively licensed from the Institute for Systems Biology and Caltech. Learn more at www.indidx.com
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Baird Capital's venture team invests in early and expansion-stage technology-enabled services and healthcare companies. Having invested in more than 270 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com
For more than 30 years, InterWest has partnered with exceptional entrepreneurs to build winning technology and health care companies. With more than 200 years of combined operating and investing experience, the firm's investing team has raised $2.8B, completed more than 78 IPOs, and participated in nearly 75 upside acquisitions. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company. www.interwest.com
About Life Sciences Alternative Funding LLC
LSAF provides non-dilutive, debt capital exclusively to fund the growth of commercial-stage life sciences companies with a primary focus on medical device and diagnostics companies. LSAF's highly flexible structures provide long-term capital solutions ranging from $10 million to $50 million or more. LSAF is majority-owned by affiliates of the Perella Weinberg Partners Asset Based Value Strategy.
About the Wellcome Trust
The Wellcome Trust is a global charitable foundation dedicated to achieving extraordinary improvements in human and animal health. It supports the brightest minds in biomedical research and the medical humanities. The Trust's breadth of support includes public engagement, education and the application of research to improve health. It is independent of both political and commercial interests.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
May. 26, 2015 09:45 AM EDT Reads: 1,316
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
May. 26, 2015 09:45 AM EDT Reads: 1,119
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
May. 26, 2015 09:30 AM EDT Reads: 1,204
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
May. 26, 2015 09:00 AM EDT Reads: 1,533
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
May. 26, 2015 09:00 AM EDT Reads: 1,271
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
May. 26, 2015 09:00 AM EDT Reads: 3,421
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 26, 2015 09:00 AM EDT Reads: 1,342
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. Acco...
May. 26, 2015 09:00 AM EDT Reads: 5,066
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
May. 26, 2015 09:00 AM EDT Reads: 1,603
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
May. 26, 2015 08:45 AM EDT Reads: 1,382
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 26, 2015 08:30 AM EDT Reads: 3,940
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
May. 26, 2015 08:00 AM EDT Reads: 5,854
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
May. 26, 2015 08:00 AM EDT Reads: 5,367
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
May. 26, 2015 07:45 AM EDT Reads: 1,043
There are 182 billion emails sent every day, generating a lot of data about how recipients and ISPs respond. Many marketers take a more-is-better approach to stats, preferring to have the ability to slice and dice their email lists based numerous arbitrary stats. However, fundamentally what really matters is whether or not sending an email to a particular recipient will generate value. Data Scientists can design high-level insights such as engagement prediction models and content clusters that a...
May. 26, 2015 07:00 AM EDT Reads: 5,110