Exosome Diagnostics, Inc., a New York City-based developer of diagnostic tests for use in personalized medicine, has reportedly raised $27 million in a series B funding round led by new investors QIAGEN and Arcus Ventures. Proceeds will be used for the 2014 U.S. launch of EXO106, a non-invasive urine sample diagnostic test that “could potentially reduce the number of unnecessary prostate biopsies in patients with an elevated PSA,” the company said. It will also use the funds to support the development of tests for non-small cell lung cancer and other oncology applications. The company’s “proprietary exosome technology makes use of the presence and natural stability of RNA in exosomes to detect and measure levels of genes responsible for cancer and other diseases.” See Exosome Diagnostics, Inc. Press Release, March 11, 2014.