Gregor Diagnostics, a US-based molecular cancer diagnostics developer founded by a University of Wisconsin-Madison alumnus, has completed a $900,000 seed round backed by the university’s tech transfer unit, Wisconsin Alumni Research Foundation (Warf).
VC firms First Round Capital and Green Park & Golf Ventures co-led the round, with participation from startup accelerator Health Wildcatters as well as angel investors Nat Turner and Zach Weinberg. The capital is made up of equity and debt, according to a securities filing.
Founded in 2017, Gregor Diagnostics is working on a molecular diagnostics test for prostate cancer, a deadly disease common to men which often lacks symptoms early on.
The test can be used at home and is expected to accurately discern between aggressive and indolent prostate cancers so that an appropriate response can be decided.
The cash will support efforts to prove the accuracy of its test on a set of patient samples, as well as other research, development and corporate objectives.
Gregor hopes the technology will help avoid unneeded therapeutic interventions while ensuring the most threatening prostate cancers are promptly treated.
Gregor Diagnostics is helmed by chief executive Tobias Zutz, who graduated from Wisconsin-Madison with a BSc in biochemistry and genetics before completing a master’s degree in biotechnology at the same university.
The startup previously received an undisclosed sum in connection with its participation in Health Wildcatters’ accelerator in August 2017. Health Wildcatters generally invests between $30,000 and $380,000 in exchange for at least 8% equity.
Tobias Zutz said: “We are really trying to tackle this problem from both angles by decreasing overdiagnosis and overtreatment while enabling more effective detection of aggressive prostate cancer, and this is an important first step toward that goal.”
