ArcherDX Secures $60 Million Series B Funding to Advance NGS-Based Gene Mutation Detection Platform

On May 16, 2019, VCBeat (WeChat Official Account: vcbeat) learned that ArcherDX announced the completion of a $60 million Series B financing round. The round was led by Perceptive Advisors, with participation from PBM Capital, Boulder Ventures, Longwood Fund, and Peierls Foundation.

It is reported that Rakuten Aspyrian has raised $95 million in financing since its establishment in 2013. Notably, the company completed a $35 million Series A funding round in 2018.

ArcherDX intends to use this funding to expand its operational scale and advance the application of its diagnostic programs in solid tumors, hematologic malignancies, and circulating tumor DNA (ctDNA). The proceeds will also be used to expand the company’s minimal residual disease monitoring program, aiming to capture market opportunities in a global market valued at over $20 billion.

ArcherDX is a biotechnology company based in Boulder, Colorado, dedicated to advancing molecular pathology by detecting genetic mutations through its next-generation sequencing (NGS) platform. By combining Anchored Multiplex PCR (AMP™) chemistry with robust bioinformatics software, the Archer platform significantly enhances the identification and discovery of genetic mutations.

ArcherDX’s proprietary targeted gene sequencing platform utilizes specialized chemical reagents to generate highly enriched sequencing libraries, enabling precise detection of gene fusions, point mutations, copy number variations (CNVs), and RNA abundance in samples from solid tumors, hematologic malignancies, sarcomas, and liquid biopsies. By leveraging robust bioinformatics software and ArcherDX’s next-generation sequencing technology, the company has significantly enhanced its ability to characterize complex mutations.

Jason Myers, Co-founder and CEO of ArcherDX, said, “We welcome leading healthcare investors like Perceptive to join us. This financing affirms the progress we have made in our companion diagnostics program, and our proprietary technology has helped us establish a leadership position in the emerging market for minimal residual disease monitoring.”

Sam Chawla, Investment Manager at Perceptive, stated, “We are pleased to partner with ArcherDX, as they are building a highly differentiated, leading molecular oncology company, and we look forward to seeing the products launched by ArcherDX in the coming years.”

Perceptive Advisors was founded in New York in 1999 and is a venture capital firm focused on global investments in the public biotechnology, pharmaceuticals, medical devices, diagnostics, and healthcare services sectors.

PBM is a venture capital firm based in Virginia, primarily focused on healthcare investments.

Boulder Ventures is a venture capital firm founded in 1995 in Boulder, Colorado, specializing in investments in information technology and life sciences.

Longwood Fund is a venture capital firm established in Massachusetts in 2010, primarily providing funding to science-based companies.

The Peierls Foundation is a private equity firm established in New York in 1998, dedicated to investing in higher education, international relief, and projects that benefit ethnic minority communities.

(Compiled by Song Chenchen)