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Woburn-based Claros Diagnostics Inc., a developer of handheld in-vitro medical diagnostic devices, has raised a $4 million finance round.
The funding was divulged in forms filed with the U.S. Securities and Exchange Commission on March 23. Claros did not return calls for comment.
This round follows on a $7.8 million Series A round raised January 2007. That initial funding was intended to help develop Claros’ handheld diagnostic testing system for point-of-care use. The round was led by Oxford Bioscience Partners, with participation from Bioventures Investors, Accelerated Technologies Partners and Commons Capital, according to the company.
Claros relies on a new handheld immunoassay system that incorporates a “lab-on-a-chip,” which produces laboratory blood test results with diagnostic test strips. The Claros device is meant to allow doctors to analyze a blood sample in an office, allowing for a complete analysis during a patient visit.
In 2007, it stated its system would be developed for urological cancer, incorporating an established panel of biomarkers, with a prostate-specific antigen (PSA) anchor. The data from diagnostic tests that quantitatively detect PSA and PSA velocity are what urologists use to decide if they need to perform a prostate biopsy. About one million of these prostate biopsies are conducted annually on patients.
However, the company also stated the technology platform it was creating could go beyond cancer diagnostics and encompass infectious disease, women’s health and critical care. It could also be deployed with existing treatments.
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