CAMBRIDGE, Mass., July 13 /PRNewswire/ -- Metamark Genetics, Inc., a molecular diagnostics company addressing a major
Proceeds from the financing will be used to expand Metamark's research and development and clinical testing infrastructure, in addition to establishing its commercial organization. Kenneth E. Weg, Metamark's Chairman and acting CEO, remarked "We expect that this robust level of capitalization will assure that Metamark has the resources to fully develop and prepare for the commercialization of its innovative molecular diagnostic tests for early stage cancers, which comprise the majority of cancer diagnoses today."
Metamark's proprietary MetamarkDx™ Prognostic Assays are being designed to enable the identification of those early stage cancers that are genetically hardwired for lethal spread, thus arming physicians with critical insight to develop personalized treatment strategies, such as the enlistment of high risk patients into more aggressive treatment regimens than low risk patients. As importantly, these powerful tests will reduce the unnecessary over-treatment of benign disease, thus significantly reducing health care costs. Dr. Lynda Chin, Metamark's scientific founder and Board Member, further notes "By uniformly impacting positively across the needs of patients, physicians, and payers, Metamark stands to become a leader in the personalized medicine revolution."
Metamark's Senior Director of Operations, Eric Devroe, Ph.D., added "This Series B financing comes at an important time in Metamark's planned evolution into a leading molecular diagnostics company. We look forward to sharing forthcoming developments related to Metamark's expanding team, scientific publications, and strategic business partnerships."
Metamark's founding team, comprising world leaders in oncology, genetics, pathology, successful serial entrepreneurs, and business leaders includes:
About Metamark Genetics, Inc.
Metamark is a privately held oncology company focused on the development of function-based prognostic assays for early staged cancers. The MetamarkDx™ Prognostic Assays under development are based on Metamark's proprietary Prognosis Determinants™, genes discovered through leading edge cancer research and demonstrated to play a causal role in promoting tumor progression and spread. For further information, please visit the company's website at www.metamarkgenetics.com
Cautionary Note Regarding Forward-Looking Statements
This press release, and information contained on Metamark's website, contains forward-looking statements that involve substantial risks and uncertainties, including statements regarding Metamark's strategies and future plans, prospects and results, are forward-looking statements. The words "anticipate," "believe," "expect," "intend," "may," "plan," and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Metamark may not actually achieve the plans or expectations disclosed in its forward-looking statements, and you should not place undue reliance on its forward-looking statements.
SOURCE Metamark Genetics, Inc.
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