DermTech, a San Diego skin cancer diagnostics startup, seems to be making up for lost ground from a scrapped $25 million IPO: It just filed a $20 million equity fundraise with the SEC.
The company develops biopsy-free gene classifiers and and expression tests to screen for dermatologic conditions like melanoma. It gathers samples in a noninvasive manner – using an adhesive patch as opposed to a scalpel to collect skin cells.
DermTech analyzes the RNA extracted from these skin tissue samples to determine the expression levels of genes associated with melanoma – and make the diagnosis.
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The company, founded in 1995, withdrew its IPO filing last November. As of June 30, 2014 it had booked no revenue for that fiscal year.
[PHOTO: Flickr user Christiana Care]