Variantyx picks IBM for $20m series C

Variantyx, a US-based developer of hereditary disease testing technology spun out of Tel Aviv University, received $20m yesterday in a series C round featuring IBM Ventures, the corporate venturing subsidiary of computing technology producer IBM.
GHS Fund, a joint venture between Quark Venture and GF Securities, led the round, which included Pitango Venture Capital, New Era Capital Partners and 20/20 HealthCare Partners.
Founded in 2014, Variantyx has developed genome sequencing technology used to test for rare inherited and neurological diseases.
Haim Neerman, chief executive of Variantyx, said: “The funding will make it possible for Variantyx to extend our technology to comprehensive tumour diagnostic solutions allowing for faster diagnosis and implementation of personalised treatment plans.
“Reducing the time to diagnosis and providing patients with a truly personalised analysis of their unique cancer will provide a better outcome for patients, allowing them to begin the most appropriate cancer treatment sooner.”
Pitango Venture Capital led a $7m round for the company in June 2019 through its $150m Pitango HealthTech Fund. Variantyx also identified New Era Capital Partners and 20/20 HealthCare Partners as existing investors in the latest round.
– A version of this article first appeared on our sister site, Global Corporate Venturing.