What is Strand Diagnostics/Know Error?
Know Error provides a sophisticated, patented system that integrates forensic principles and bar-coding technology to ensure the absolute accuracy of surgical biopsy samples. By implementing a rigorous DNA-based verification process—utilizing buccal swab-to-biopsy tissue comparisons—the company effectively mitigates the clinical and economic liabilities inherent in cancer misdiagnosis. Their platform serves as a critical safeguard for healthcare providers, ensuring that diagnostic results are correctly attributed to the patient, thereby enhancing overall patient safety and operational reliability in pathology workflows.
How much funding has Strand Diagnostics/Know Error raised?
Strand Diagnostics/Know Error has raised a total of $30M across 1 funding round:
Series A
$30M
Series A (2012): $30M with participation from NantWorks, LLC
Key Investors in Strand Diagnostics/Know Error
NantWorks, LLC
NantWorks is a research and development firm focused on integrating next-generation technologies, including machine vision and supercomputing, to solve complex challenges in the healthcare and digital sectors.
What's next for Strand Diagnostics/Know Error?
Looking ahead, the strategic deployment of this capital will likely focus on expanding the adoption of the Know Error DNA test within high-volume pathology environments. As the company matures, the focus will shift toward integrating these forensic verification protocols into standard clinical practice, thereby establishing a new benchmark for diagnostic precision. The firm is poised to capitalize on the growing emphasis on patient safety and the reduction of medical errors, positioning itself as an essential partner for healthcare institutions seeking to eliminate specimen provenance complications. Future growth will likely be driven by strategic partnerships and the continued refinement of their proprietary diagnostic verification technology.
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