Kaiser Permanente and Johnson & Johnson’s corporate venturing units have helped Astute Medical, a biomarker-based medical diagnostics firm, raise $40.4m. Kaiser Permanente and Johnson & Johnson Development Corporation were joined in the series C by venture firms MPM Capital, De Novo Ventures, Delphi Ventures and Domain Associates. Last year Astute Medical, a US-based provider of laboratory tests, extended its series B round by $13m to its existing investment consortium that included Johnson & Jonson’s corporate venturing unit. Alongside Johnson & Johnson Development Corporation in the B extension are venture capital firms Domain Associates, Delphi Ventures and De Novo Ventures. Astute had initially raised $26.5m in its B round in May. Founded in 2007 by Christopher Hibberd and Paul McPherson, former managers at diagnostics company Biosite before its acquisition by Inverness Medical Innovations for $1.7bn earlier that year, Astutue had raised $6.2m in it’s A round in May 2008.
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JJDC, Kaiser Permanente like Astute
Jun 12, 2012 • Toby Lewis
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