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Armune Inks Deal to Market Prostate Cancer Test as it Positions for $25M Fundraising Round

Thursday, December 17, 2015   (0 Comments)
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KALAMAZOO — An agreement with a Canadian company will significantly expand sales and marketing efforts for Armune Bioscience Inc. and its new blood test for prostate cancer that hit the market this year.

Under the co-marketing deal, Quebec City-based Aeterna Zenteris Inc. will market Armune’s Apifiny blood test alongside its own products as it meets with health systems and large medical groups across the U.S. The company will also begin moving the test into Europe, potentially in 2016.

“We’re going to work together to commercialize Apifiny,” said David Esposito, CEO of Kalamazoo-based Armune. “It significantly expands our marketing efforts around Apifiny in the U.S. and opens the door for our European expansion.”

The company continues to raise $4 million in a Series A financing round, so far netting $3.25 million, and is “moving aggressively” into a $25 million Series B round to expand the business in the U.S. and globally, Esposito said. He’s lining up a number of meetings with prospective investors at a health care investor conference in mid-January in San Francisco sponsored by JPMorgan.

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