Clarient closes $40M for cancer diagnostics

Clarient, an Aliso Viejo, Calif.-based provider of cancer diagnostic and identification tests, has brought in $40 million from Oak Investment Partners. The first $30 million chunk of financing came in March, and the company could score $10 million more from the firm depending on terms of the deal.

So far, Clarient has used the money to pay back shareholder Safeguard Scientifics. Things seem to be looking up, with the public company reporting $22.4 million in first quarter revenue, up 41 percent from last year. This marks the 19th quarter in a row that revenue has been on the upswing.

Next Story: Greylock Partners joins the Sand Hill neighborhood
Previous Story: Satiety secures $7.5M bridge for tummy tuck shortcut