NEW YORK – UK-based startup Oxford Cancer Analytics is using the $11 million it has raised in a Series A financing to further develop and commercialize its protein-based lung cancer screening assay.

The test, which runs on the Swiss company's high-throughput MosaiQ System, detects 15 different autoantibodies.

Last week, readers were most interested in a story about two Medicare administrative contractors delaying the implementation of a policy not to cover certain genetic tests.

The Scotland-based firm said that it will use the money for the development of its cancer tests and commercialization in new markets.

Of the 30 companies included, 19 companies saw their stock price increase, eight firms saw their share price decrease, and three companies remained essentially flat.

The tissue-based test is approved to identify a new classification in HER2 expression designated as HER2-ultralow.

AlterDiag will take full responsibility for the industrialization, regulatory restrictions, and commercialization of the tests.

The firm reported that its full-year 2024 revenues were up slightly as a rise in the diagnostics business was mostly offset by a decline in life sciences business.

In one, a North Carolina lab allegedly billed for unnecessary urine drug tests, and in the other a Californian women submitted fraudulent claims for respiratory pathogen testing.

Quest said that while it will continue to look at acquisition opportunities, it plans to focus on integrating and driving productivity of recently purchased assets.

The firm reported that its full-year 2024 revenues were up slightly as a rise in the diagnostics business was mostly offset by a decline in life sciences business.