Johns Hopkins oncology diagnostics spinout PGDx had previously raised approximately $99m.
Investment adviser Innovatus Capital Partners has agreed to provide up to $42m in funding for Personal Genome Diagnostics (PGDx), a US-based oncology diagnostics developer spun out of Johns Hopkins University.
PGDx is developing in vitro genomic liquid and tissue-based biopsy products that will be able to help physicians fine tune treatments for cancer patients based on the precise characteristics of their disease.
The technology is based on research conducted by co-founders Luis Diaz Jr, an associate professor of oncology at the Johns Hopkins University School of Medicine, and Victor Velculescu, professor of oncology and co-director of cancer biology in the same department.
The company had previously raised approximately $99m in equity financing, most recently securing $75m in a January 2018 series B round co-led by pharmaceutical company Bristol Myers-Squibb and venture capital firm New Enterprise Associates (NEA).
The round included Inova Strategic Investments and Helsinn Investment Fund, respective vehicles for healthcare providers Inova Health System and Helsinn, as well as Co-win Healthcare Fund, Windham Venture Partners, Maryland Venture Fund and unnamed existing backers.
PGDx had already received $21.4m in a series A round led by NEA and backed by Windham Venture Partners and Nanjing Kaiyuan Growth Capital Investments in 2015.
