Toronto life sciences spin-out Xagenic closes $20m series B ahead of FDA submission.

Xagenic, a University of Toronto spin-out developing a lab-free molecular diagnostic platform, has raised a $20m series B.

The round was led by new investor and venture firm Domain Associates, and joined in participation by existing backers venture firm CTI Capital and the Ontario Emerging Technologies Fund. Including a 2012 series A round, which saw participation from commercialisation firm MaRS Innovation and the separate MaRS Innovation Accelertor Fund, Xagenic has now raised $31m. Xagenic also received $1m in seed financing…

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