Paradigm Diagnostics Secures $15M Series B Financing to Advance Commercialization of Proprietary Paradigm Cancer Diagnostic Platform

Recently, VCBeat (WeChat Official Account: vcbeat) learned that Paradigm Diagnostics has completed a $15 million Series B financing round. As part of this financing transaction, Mara Aspinall, Managing Director at BlueStone Venture Partners, will join the company’s board of directors.

This round of financing was participated in by existing investors Mesa Verde Venture Partners, New Science Ventures, and Prairie Ventures, as well as new investors Gore Range Ventures, the Tech Coast Angels San Diego (TCA-SD), OSF HealthCare Ventures, and BlueStone Venture Partners.

Paradigm Diagnostics is an innovative precision medicine company that leverages its bioinformatics and proprietary sequencing technologies to deliver Paradigm Cancer Diagnostics (PCDx), a service designed to identify the optimal evidence-based treatments for cancer patients, thereby improving progression-free survival. PCDx is disruptive in that it rapidly provides diagnostic and next-generation sequencing (NGS) results—including mutational burden from a single slide—within 3–5 business days. In an independent prospective study, clinical data demonstrated that treatment guidance informed by Paradigm Cancer Diagnostics significantly improves progression-free survival.

“Paradigm is seeking innovative and effective solutions in the oncology market,” said Mara Aspinall, Managing Director at BlueStone Venture Partners. “Oncologists also desire faster, more accurate, and more comprehensive cancer diagnoses.”

John Friedman, Managing Director at Gore Range Capital, stated, “The company’s flagship product, Paradigm Diagnostics, represents a paradigm shift in cancer diagnostic technology, significantly reducing the time required for clinical cancer diagnosis and providing patients with comprehensive, personalized medical diagnostic solutions. We are delighted to support the company and its team.”

Mesa Verde Venture Partners is a life sciences venture capital firm established in California, United States, in 2006. The firm focuses its investments on drug discovery, medical devices and diagnostics, and healthcare information technology.

New Science Ventures is a leading venture capital firm. NSV was founded in 2004 by Executive Partner Somu Subramaniam and Partner Tom Lavin, and has invested approximately $500 million in the United States, Europe, India, and China.

Prairie Ventures is a private investment firm established in Nebraska, United States, in 2000.

Gore Range Ventures is a venture capital firm founded in New York in 2015, focusing on investing in early-stage and growth-stage healthcare companies. Established by professionals with expertise in finance and healthcare, the firm possesses unique insights in the fields of dermatology, oncology, cardiovascular health, and technology-driven medical innovations.

TCA-SD is one of the largest and most active angel investment firms in the United States. Founded in 1997, TCA has invested over $218 million in more than 380 companies and has successfully helped its portfolio companies secure over $1.66 billion in additional capital or follow-on financing.

OSF Ventures is a division of OSF HealthCare, headquartered in Peoria, with nearly 21,000 employees across 126 locations. The company focuses on investments in risk optimization, finance, and operations.

BlueStone Venture is a life sciences venture capital firm that provides funding and strategic support to innovative technology companies. Founded in 2017, the company is headquartered in Arizona and New Mexico.

(Compiled by Song Chenchen)