On-Q-ity, a Waltham, MA-based oncology diagnostics company focused on improving cancer therapy effectiveness, has closed a $21m Series A financing. The funding round was led by MDV-Mohr Davidow Ventures and included Bessemer Venture Partners, Physic Ventures and Northgate Capital.
On-Q-ity is developing diagnostics to determine optimal treatment choice for cancer patients at each stage of the treatment cycle – from the first therapy choice to monitoring for recurrence.
The company’s novel circulating tumor cell technology and predictive biomarker platform allows for the analysis of tumor tissue samples as well as the capture of rare tumors cells that are circulating in a cancer patient’s blood.
Those cells are then monitored for molecular changes that are characteristic of therapy response. This combination enables minimally invasive real-time data on a patient’s status – allowing treatment adjustments before changes are visible with any other technology.
In conjunction with the funding, Steve Kraus from Bessemer Venture Partners and Dion Madsen from Physic Ventures will join the On-Q-ity board of directors.