Seer Secures $55 Million Series D Funding to Advance Proteograph Platform for Research and Clinical Applications

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on December 17, 2019, Seer, a U.S.-based life sciences and health data company, announced the completion of a $55 million Series D financing round. The round was led by aMoon Fund, a venture capital fund focused on health technology and life sciences, with participation from new investor T. Rowe Price Associates and all existing investors.

It is reported that Seer completed a $17.5 million Series C financing round in July 2019, led by Maverick Ventures and Invus. The recently completed Series D financing will be used to advance the development of its proprietary Proteograph™ platform and to continue the development of proteomics products for research and clinical applications.

Seer, founded in 2017 and headquartered in San Francisco, California, is a life sciences and health data company. The company’s core technology, the Proteograph platform, is designed to deliver rapid, cost-effective, and large-scale proteomics analysis. The high accuracy of data analysis from the Proteograph platform enables healthcare institutions to detect cancer and neurological diseases at an early stage, facilitate early intervention, and improve patient outcomes.

Seer leverages machine learning algorithms to analyze large-scale proteomics data and generate population-level disease datasets, which are then used to develop first-in-class liquid biopsy products for the early, pre-symptomatic detection of diseases.

The Proteograph platform integrates multiple technologies, including nanotechnology, protein chemistry, and machine learning, to deliver proteomic analysis from minimal biological samples. It accurately captures and analyzes tens of thousands of data points derived from proteins, encompassing unique protein identifications and novel insights into protein interactions.

Regarding this round of financing, Dr. Omid Farokhzad, Founder and CEO of Seer, stated, “We are delighted to partner with these distinguished investors, with whom we share a strategic vision of leveraging proteomics databases to develop liquid biopsy products and deliver high-quality healthcare services to a broad patient population. We look forward to utilizing this funding to accelerate product development and commercialization in key areas, while continuing to expand our R&D team.”

Dr. Tomer Berkovitz, Partner and Chief Financial Officer at aMoon Fund, stated, “Currently, science and technology companies still face numerous challenges in acquiring and integrating human proteome data. It is evident that products developed based on such data hold immense potential to impact human health. We are impressed by the Seer team’s approach and progress, and we are confident in the Proteograph platform’s potential to accurately acquire proteomic data at unprecedented speed and scale.”

aMoon Fund is a venture capital fund founded by Marius Nacht and Dr. Yair Schindel in 2016, headquartered in HaMerkaz, Israel. The fund primarily invests in early-stage startups in the biopharmaceutical and digital health sectors.

(Compiled by Wang Fang)