According to the Puget Sound Business Journal, Integrated Diagnostics will use the funds to secure Medicare designation for its diagnostic test that identifies which patients are most likely to need an invasive lung biopsy.

'Our goal for the last two years has been to obtain Medicare coverage for our Xpresys Lung test,' said CEO Al Luderer. 'The financing will allow us to complete the last stages of Medicare coverage.'

The company has secured contracts with several preferred provider organizations (PPOs) for the non-invasive blood test.

But more than 70 percent of the patients Indi has tested over the years are over 65, the age at which Medicare health insurance kicks in.

For that reason, it's imperative that Indi get Medicare coverage, Luderer said.

Indi has raised a total of about $83 million in financing.

The company, which has 12 employees, was co-founded in 2009 by Leroy Hood, co-founder of the Institute for Systems Biology.