Personal Genome Diagnostics Inc., a Baltimore-based leader in the development of tissue-based and liquid biopsy technologies and products for cancer genomics, raised $75m in Series B financing.
The round was co-led by new investor Bristol-Myers Squibb and existing investor New Enterprise Associates (NEA) with participation from new and existing investors Inova Strategic Investments, Co-win Healthcare Fund, Helsinn Investment Fund, Windham Venture Partners, Maryland Venture Fund and undisclosed investors.
The company intends to use the funds to support the strategic initiative to bring regulated in vitro diagnostic (IVD) genome testing to cancer patients and their physicians worldwide.
Led by Douglas Ward, Chief Executive Officer, Personal Genome Diagnostics is a life sciences company with expertise in cancer genome analysis ranging from sample preparation and sequencing to data interpretation and analysis. The company specializes in high-throughput next-generation sequencing and proprietary algorithms to identify alterations in complex cancer genomics and has developed novel technologies for non-invasive approaches to cancer. PGDx is also developing and commercializing a portfolio of tissue and liquid biopsy IVD cancer tests that will be clinically validated and regulated, enabling worldwide access to PGDx technology.