Seattle’s life sciences industry is getting another boost.
Integrated Diagnostics, a Seattle company developing blood-based proteomic tests, has raised $30.25 million in series B funding and $17 million in debt financing. Investors in the round include Baird Capital, InterWest Partners and the Wellcome Trust.
The company, which operates under the name Indi, is led by biotechnology exec Albert Luderer. In a press release, Luderer said that the company’s first product, Xpresys Lung, has the potential to “achieve blockbuster status.” The product, which helps doctors manage indeterminate lung nodules, determining whether those nodules are benign, was released late last year.
“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,” said Luderer.
As a result of the financing round, Baird Capital’s Michael Liang has joined the board. Indi was co-founded in October 2009 by systems-biology pioneer Dr. Lee Hood.
The investment follows a string of big deals in the Seattle life sciences sector, including a $176 million series A investment in cancer research startup Juno Therapeutics.
