CDx Diagnostics‘ parent company has raised more than $11 million in its latest money-raise as it continues to promote its WATS3D diagnostic platform for spotting pre-cancerous cells in the esophagus.
Six investors provided money to CDx Medical Holdings, according to the SEC Form D dated Dec. 16. The company had sought up to $17.3 million.
WATS3D, or Wide Area Transepithelial Sampling with 3D Tissue Analysis, uses an abrasive sampling brush during an upper endoscopy procedure to create a wide area tissue sample. Unlike standard cytology instruments, the brush is able to capture the full thickness of the epithelium, penetrating into the submucosa, according to CDx Diagnostics. The company touts that the result is a uniquely comprehensive tissue sample.
CDx Diagnostics (Suffern, N.Y.) has spent more than $80 million to develop a three-dimensional computer image analysis system that includes an artificial intelligence that points out potential abnormalities in tissue specimens.
The company announced in September that the American Society for Gastrointestinal Endoscopy has included WATS3D in its Standards of Practice Committee’s guideline for the screening and surveillance of Barrett’s esophagus (BE), a known precursor to esophageal cancer.