Irvine Medical Firm Announces New Funding

US Labs Inc., an Irvine provider of cancer diagnostic services, said Wednesday that it has picked up $4.5 million in venture capital and has arranged $5 million in borrowings to fund its continued growth.

The company said in a press release that it plans to expand its genetics-based business, which provides critical diagnostic information to cancer patients and their doctors.

The venture capital came from a group led by Highland Capital Partners in Boston, Accel Partners in Palo Alto and Sage Venture Partners in Southern California. The loan arrangement came from Heller Healthcare Finance Inc.