Wauwatosa-based biotech firm TAI Diagnostics recently launched a Series B funding round in hopes of raising $15 million to $20 million, according to chief executive officer Frank Langley.
Previously, the company had raised a little more than $25 million in outside funding.
TAI provides non-invasive diagnostic tests to monitor the health of transplanted organs in the patients that have received them.
During the fourth quarter of 2018, the company launched its myTAI Heart test, which uses a small blood sample to determine if a patient is at low or increased risk of rejecting a heart transplant. It works by measuring the fraction of cell-free DNA present in the bloodstream that is attributable to the transplanted heart. An elevated donor fraction is associated with an increased risk of rejection.
“We’re looking for signs of early rejection,” said Frank Langley, chief executive officer. “We have significant interest in the product.”
TAI Diagnostics is developing similar tests for lung and kidney transplants. The lung test is in development and could launch by the end of this year. The kidney test is in clinical trials and is expected to launch in 2021.
