Connecticut Innovations leads $1.8m series B in Yale-linked Precipio.
Life sciences startup Precipio Diagnostics has closed a series B round where it raised $1.8m.
Connecticut Innovations (CI), a venture fund tied to the State of Connecticut, led the round with $750k. It was joined by Iron Wood Capital, Enhanced Capital, Kuzari Capital, and individual backers. CI previously supported Precipio last year with a $500k loan.
The US-based startup, which launched last year, provides pathology services focused on cancer diagnostics. Precipio has exclusive deals to analyse patient samples with Yale School of Medicine and the Yale-New Haven Hospital, and also licenced several diagnostics technologies from the university.
Ilan Danieli, chief executive at Precipio, said: “We are delighted with the support provided to us by CI and other investors who participated in this round. In the past couple of years we’ve helped scores of cancer patients around the world, by providing them with access to the highest level of diagnostic expertise and technologies that are not available to any of our competitors. Our friends at Yale play a key role in supporting our operation, by making the challenging transition from purely academic operations to delivering commercial-level services to community oncologists and hospitals.”