Kaiser Permanente Ventures (KPV), the corporate venturing division of a US-based healthcare provider, has reinvested in cancer management company Predictive Biosciences.
Predictive raised $25m in its series C round, led by venture capital firm ProQuest Investments as a new investor. As well as KPV, all Predictive’s previous investors returned as well: Flybridge Capital Partners (known as IDG Ventures Boston until 2008 when it changed its name after bringing in outside investors as limited partners to parent media group IDG), Highland Capital Partners, and New Enterprise Associates.
They had invested $21.75m in Predictive’s series B round in October 2008, while Flybridge and Highland invested $10m in its first funding at the end of 2006.
Proceeds from the series C financing will be used to complete multi-centre clinical trials for Predictive’s CertNDx bladder cancer diagnosis tool and support its commercial launch through the company’s laboratories.