Precision Biopsy closes $2.5M funding

By Maria Uminski, MHT Editorial Intern

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Precision Biopsy LLC recently closed a $2.5 million round of funding to help move the commercialization phase of a novel prostate cancer detection technology forward. The new technology was developed at the University of Colorado Anschutz Medical Campus.

Precision Biopsy is a privately-held company created by Allied Minds Inc. of Quincy in 2008. The startup focuses on optical biopsy technology designed to improve the accuracy and reliability of prostate biopsies and the diagnosis of prostate cancer.

Allied Minds is a $250 million private equity-funded innovation company with offices in Boston and Los Angeles. The innovation company creates startup businesses that focus on early-stage technology developed at U.S. universities and national labs. The company’s subsidiary investments include BA Logix, CryoXtract and SiEnergy Systems, among others.

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