NEW YORK — Cancer diagnostics developer Syantra said Wednesday that it has raised C$4.9 million (US$3.6 million) in a Series A-1 financing round.
The round included unnamed individuals associated with CG Wealth Management, as well as certain existing investors, the Calgary, Canada-based company said.
Syantra, a spinout of the University of Calgary, has developed a liquid biopsy test that measures a panel of messenger RNA biomarkers in blood using real-time PCR and machine learning for the early detection of breast cancer. Dubbed the Syantra DX Breast Cancer Test, the assay received CE-IVD marking in mid-2023 and is currently being evaluated in a Cornell University-led clinical trial supported by $2.4 million in US Department of Defense funding.
Syantra said it will use the Series A-1 funding to fast-track the clinical validation and commercialization of the breast cancer test.
"This influx of support will empower Syantra to focus on the science that drives us forward, enabling the team to execute ongoing clinical studies and other efforts prior to ramping up commercialization in 2025," Syantra CEO Rob Lozuk said in a statement.