PierianDx Secures $27 Million Series B Funding to Advance Clinical NGS and Transform Cancer Care

VCBeat (WeChat ID: vcbeat) has learned that on October 28, 2019, clinical genomic information company PierianDx announced the completion of a $27 million Series B financing round. The round was led by ATW Partners and SJF Ventures, with participation from existing investors Health Catalyst Capital, Inova Health Systems, RTI International, and ARUP Laboratories.

PierianDx was founded in 2014 in St. Louis, United States, and is dedicated to advancing cancer diagnostic technologies to make targeted therapies more accessible to healthcare systems, laboratories, and patients worldwide. PierianDx’s SaaS platform establishes clinical genomics as the standard of care and supports some of the world’s most advanced molecular diagnostic laboratories.

In 2011, the University of Washington established a CAP- and CLIA-certified laboratory for next-generation sequencing (NGS) testing. The Department of Genetics and Molecular Pathology collaborated to develop the Clinical Genome Workbench (CGW), a pioneering software platform in clinical genomics. In 2012, the University of Washington transferred this technology to more than 50 laboratories for clinical NGS testing. Core team members of this technology originated from PierianDx.

PierianDx boasts industry-leading clinical genomics technologies, CAP- and CLIA-certified laboratories, and specialized expertise, delivering the most comprehensive, reliable, and collaborative services in clinical care. The company is advancing the integration of genomics into clinical practice and accelerating the fight against cancer and other diseases.

Dr. Rakesh Nagarajan, Founder and Executive Chairman of PierianDx, stated, “PierianDx has achieved significant growth over the past 18 months, with our team dedicated to the global adoption of clinical NGS. We will continue to leverage our clinical expertise and resources to realize our vision.”

Michael L. Sanderson, CEO of PierianDx, stated, “Our new capital infusion will accelerate the commercial expansion of PierianDx’s clinical genomics platform in global markets, including Europe, the United States, Asia, Australia, and Latin America. PierianDx is committed to providing state-of-the-art, clinically actionable cancer treatments to everyone, regardless of their location or ability to pay.”

“Kerry Propper, Co-Founder and Managing Partner of ATW Partners, stated, ‘We are delighted to lead the Series B investment in PierianDx. We believe that PierianDx will transform the way cancer is treated globally.’”

ATW Partners, established in March 2016, is a hybrid risk and private equity investment firm based in New York, USA, dedicated to investing in high-quality companies at various stages of development.

SJF Ventures is a U.S.-based venture capital partnership founded in 1999, with offices in Durham, New York, and San Francisco. The firm’s representative investment areas include infrastructure, sustainable agriculture, health technology, digital media, and marketing services.

Health Catalyst Capital, established in 2015, is a venture capital fund based in New York, USA. The firm invests in high-growth healthcare IT businesses in the United States.

Inova Health Systems is a nonprofit healthcare organization that serves 2 million people annually in the Washington, D.C. metropolitan area and beyond.

RTI International, established in 1958, is a nonprofit, independent organization in the United States that provides research and development and technical services to government and commercial clients. Its areas of expertise include health and pharmaceuticals, education and training, survey statistics, international development, and economic and social policy.

ARUP Laboratories, established in 1983, is a national laboratory in the United States and a global leader in innovative research and development laboratories.

(Compiled by Jiang Ying)