Scottsdale-based Beacon Biomedical, Inc., a privately held company focused on developing patient-friendly cancer screening, received an investment from Phoenix-based Hyalescent Ventures, which focuses its investments on healthcare and medical technology. Beacon has secured the exclusive worldwide rights from the NIH for the detection and quantification of a signaling protein called Cripto-1 (also known as teratocarcinoma-derived growth factor-1) that advances the detection of colorectal cancer. “Hyalescent invested in Beacon because we believe in their technology and, more importantly, we invested because we believe in their management team,” says Dirk Beth, managing director and founder of Hyalescent Ventures.
