Prior to the creation of Preora, Vadim Backman’s Northwestern University laboratory had received close to $20 million in NIH and NSF grant funding for the development of the core PWS technology, and an additional $6.9 million in fast track SBIR/STTR grants to support the product and process development for commercialization. The extraordinarily high level of grant funding serves as evidence of the clinical potential of the PWS technology platform.
Preora is currently fundraising and has recently secured $1.75 million of a targeted $3 – $4 million in outside private funding to provide business planning support, complete the lung test verification studies and to purchase the long lead time equipment required to build out the Preora Operating Lab.
The company is planning to initiate a Series A raise in 2H 2017 with a goal to attain $10 -$12 million by the end of 2017. The funds will be used to complete the pivotal clinical studies for the lung test, gain CLIA lab certification, initiate clinical validation studies for the colon test and to support the launch of the lung test.
Please contact John Hart, President and CEO at email@example.com to indicate interest or learn more about investment opportunities.