BioTheranostics Scoops Up $32M, to Spin Out from BioMérieux

BioTheranostics is stepping out on its own following the close of $32 million financing.

BioTheranostics, which markets the Breast Cancer IndexSM and CancerTYPE ID, will be spun out from bioMérieux, which will remain a minority shareholder. The company won approval for Medicare coverage for BCI in late 2014.

The financing was led by MVM Life Science Partners, with participation of Canepa Advanced Healthcare Fund and HealthQuest Capital. — Elizabeth Hollis