Universal DX Announces The Initial Closing Of Its Series B Financing Of Approximately $70M With Investors, Including Quest Diagnostics
Portfolio Pulse from Benzinga Newsdesk
Universal DX has completed an initial closing of its Series B financing round, raising approximately $70 million. Among the investors is Quest Diagnostics, a company known for providing diagnostic information services. The funds will be used to advance Universal DX's colorectal cancer screening blood test, which will be brought to patients and providers in the United States through a strategic collaboration with Quest Diagnostics.
December 07, 2023 | 6:57 pm
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Quest Diagnostics, a major investor in Universal DX's Series B financing, is set to collaborate on bringing an advanced colorectal cancer screening blood test to the US market. This strategic partnership could enhance Quest's service offerings and potentially increase its market share in the diagnostic services sector.
Quest Diagnostics' investment in Universal DX and the subsequent partnership to distribute a new cancer screening test is likely to be viewed positively by investors. It signals Quest's commitment to expanding its diagnostic services and could lead to increased revenue streams. The strategic nature of the collaboration suggests a significant impact on Quest's operations and future growth prospects.
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