The liver disease diagnostics spinout has secured the first tranche of a $10m series A investment by Fosun Pharma initially announced in October 2018.
Glycotest, a US-based liver disease diagnostics spinout of Baruch S. Blumberg Institute and Drexel University, received an initial $3m tranche from its up to $10m series A agreement with drug firm Fosun Pharma on Thursday.
Fosun Pharma’s investment was first announced in October 2018 and would result in the corporate taking 40% interest if fully completed. The remaining $7m sum is contingent on Glycotest satisfying certain milestones.
Founded in 2012, Glycotest is developing non-invasive blood tests for…
