Cleveland Diagnostics Closes $75M Financing

Cleveland Diagnostics, a Cleveland, OH-based clinical-stage biotechnology company developing diagnostic tests for the early detection of cancers, raised $75M in funding.

The round was led by Novo Holdings, with participation from existing investors as well as a credit facility from Symbiotic Capital.

Proceeds will accelerate the commercial strategy of IsoPSA, fund expanded infrastructure and R&D pipeline development, and broaden the geographic scope of its novel IsoPSA prostate cancer test.

Led by CEO Arnon Chait, Cleveland Diagnostics is a cancer biotechnology company whose Solvent Interaction Analysis™ (SIA) technology investigates protein biomarkers at the structure level (as opposed to mere biomarker concentration) in blood, providing more clinically relevant insights regarding the protein origin on the cellular level. Cleveland Diagnostics’ portfolio of non-invasive cancer diagnostics will soon expand beyond its novel IsoPSA prostate cancer test to breast cancer, lung cancer, and other diseases.