Pacific Edge, a New Zealand diagnostics company developing urine molecular assays for urothelial and bladder cancer risk stratification, raised NZ$25.4 million via a share placement. The funding is intended to support ongoing operations and help it pursue Medicare coverage for its Cxbladder Triage assay. Pacific Edge said it expects Medicare contractor Novitas to release a draft Local Coverage Determination that could include coverage for Triage and potentially the next-generation Triage Plus test ahead of September. The company previously received a non-coverage determination in 2025 for Cxbladder. The financing comes alongside reported revenue and test-volume declines tied to the Medicare decision, as the company transitions U.S. customers from Cxbladder Detect to Triage.