San Diego-based DermTech, which develops non-invasive cancer diagnostic tests, has secured $5.6 million in a Series B funding round. The company plans to use the funds to complete development and validation of its quantitative polymerase chain reaction (qPCR) melanoma assay and to establish a clinical laboratory in San Diego. Jacobs Investment Co., LLC led the financing.
According to a company statement, DermTech’s diagnostic assay can be used to test skin cells lifted from darkened skin lesions or moles by a strip of tape, avoiding the need for surgical biopsy, and clinical studies have apparently demonstrated the test’s ability to distinguish melanoma from non-melanoma with greater than 95 percent sensitivity and more than 70 percent specificity. “The acquisition of the Series B Financing will help the Company tremendously as we continue to validate our assay and drive toward commercialization on this important tool for clinicians,” said President and CEO John Dobak. See DermTech News Release, August 20, 2013.