July 7, 2011
Maynard Firm Secures $5.4M In Venture Capital
Allegro Diagnostics of Maynard has closed on a $5.4 million financing round.
The company says the funds will pay for the commercialization of its BronchoGen lung cancer test in 2012.
Allegro's existing venture investors, Kodiak Venture Partners of Waltham and Catalyst Health Ventures of Braintree, provided the cash infusion.
BronchoGen is designed to improve detection rates of lung cancer in its early stages. It involves molecular testing of normal cells from the respiratory tract to detect a response that can signal the presence of malignancy in the lung. Allegro is also developing other products based on the same technology.
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