Strata Oncology, an Ann Arbor, Mich.-based precision medicine company, completed a $12M Series A financing.
The round was co-led by Arboretum Ventures and Baird Capital with additional funding provided by existing investor Michigan eLab.
The company intends to use the funds to accelerate development of its tumor sequencing operation and implementation of the Strata Trial, a nation-wide effort aimed at substantially increasing the number of enrollments in precision medicine clinical trials.
Co-founded by Dan Rhodes, Ph.D., CEO, oncologist Keith Flaherty, M.D., from Harvard Medical School and Massachusetts General, and pathologist Scott Tomlins, M.D., Ph.D., from the University of Michigan Medical School, Strata Oncology provides tumor sequencing to advanced cancer patients and a portfolio of matching clinical trials. The company has also entered into a strategic partnership with Thermo Fisher Scientific, which will serve as the technology provider and contribute Ion S5™ XL next-generation sequencing systems, AmpliSeq™ technology, and Oncomine™ assays.