The DNA sequencing technology developer raises $9.25m from Utah University's Arup Laboratories and others to further develop its product and increase sales and marketing.
PierianDx, a spinout from Washington University in St Louis, has raised $9.25m in its series A round from a consortium of investors including Utah University’s Arup Laboratories.
Arup Laboratories is a non-profit organisation created by Utah University to provide a national reference laboratory for the diagnosis of disease based on the analysis of tissue at the microscopic level.
The series A round was led by venture capital fund Health Catalyst Capital Management and also featured investment management firm Ocean Road Advisors and non-profit research outfit Inova Translational Medicine Institute.
Spun out in 2014, PierianDx is commercialising technology that enables medical staff to know the precise order of organic molecules in a patient’s DNA, facilitating personalised treatment plans.
The funding will be used to increase its product development and expand its sales and marketing efforts.
Ted Briscoe, chief executive of PierianDx, said: “The team brings a wealth of industry experience, contacts and access to the capital critical to extend PierianDx’s leadership position in the rapidly advancing field personalised medicine.”
