Cancer detection firm Micronoma on Wednesday announced the closing of $3.5 million in convertible debt financing.
The San Diego-based developer of microbiome-based cancer detection technology said that the additional financing will enable it to complete a validation study on lung cancer prediction, set up CLIA operations, establish its go-to-market strategy utilizing its Oncobiota platform, and initiate work on a second cancer target.
Existing US-based investor SymBiosis and a new European-based investor Seerave Foundation contributed to the financing.
Following the closing of a $3 million seed round last August, the new financing round brings the total amount of funding for Micronoma to $6.5 million.
Micronoma was spun out of the University of California, San Diego in 2019 to commercialize liquid biopsy technology based on the discovery that unique microbial DNA signatures in blood and tissue could distinguish healthy individuals from patients with a variety of cancers.