Molecular diagnostics startup QuanDx raises $950K

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Biotech startup QuanDx has received $950,000 in funding from undisclosed investors.

The company received funds from 10 investors. QuanDx hopes to raise an additional $550,000 through this current offering round. The company also closed a $300,000 investment last March.

QuanDx develops molecular diagnostic equipment for clinical and research laboratories. The company’s first product line detects the presence of leukemia cells in patients and provides test results in a comparatively-quick two to three hours.

The company could not be reached for comment on how it plans to use the investment, but QuanDx moved to the Bay Area last year in order to access new talent and accommodate growth, chief executive Matthew Lei said in a statement.

QuanDx was founded in 2010.

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