WALTHAM, Mass., Jan. 7, 2010 (GLOBE NEWSWIRE) -- On-Q-ity, a next-generation oncology diagnostics company developing products to improve cancer therapy efficacy, ended 2009 with a total of $26 million in Series A financing, making it one of the largest for a diagnostics company during the year. The company also was named to a top five list of "start-ups to watch in 2010" by The Boston Globe.
"In a difficult economic environment for start-up financing, we are thrilled that our investors believe so strongly in the promise of On-Q-ity's personalized cancer diagnostics technology," said Mara Aspinall, President and CEO. "Our experienced management team's focus is to move On-Q-ity's biomarker and circulating tumor cell diagnostics to the market as quickly as possible to enable physicians to confidently and continuously choose the right therapy for each cancer patient.
Closing out a year of strategic hires and appointments, On-Q-ity added Robert S. Epstein, M.D., to its board of directors. Dr. Epstein is a physician and an epidemiologist who has thirty years of experience in health care. He currently serves as chief medical officer and Senior Vice President at Medco Health Solutions, Inc., a leading pharmacy benefit management company, with the nation's largest mail-order pharmacy operations.
"Adding Rob, a recognized leader and innovator in personalized medicine, to our board will be invaluable as On-Q-ity moves forward on the clinical development and commercialization of our diagnostics," said Aspinall.
Dr. Epstein joins the following On-Q-ity Directors: Mara Aspinall, On-Q-ity President and CEO; Sue Siegel, Partner, MDV; Steve Kraus, Vice President, Bessemer Venture Partners; Dion Madsen, Managing Director, Physic Ventures; and Bruce Booth, Partner, Atlas Venture.
About On-Q-ity
On-Q-ity is a next-generation diagnostics company transforming cancer treatment through non-invasive diagnostic monitoring. The company is developing innovative diagnostics to identify the unique characteristics of an individual's cancer, predicting the response to therapy, and monitoring the efficacy of treatment. The company's circulating tumor cell and biomarker technologies originated from groundbreaking research at Massachusetts General Hospital and the Dana Farber Cancer Institute and MIT, respectively. Headquartered in Waltham, MA, On-Q-ity is funded by Atlas Venture, Bessemer Venture Partners, MDV-Mohr Davidow Ventures, Northgate Capital and Physic Ventures. For more information: www.On-Q-ity.com.