Mitra RxDx (dba Mitra Biotech), a Boston, MA-based biotech company and global leader in advancing personalized oncology treatment, completed a $40m financing round.
The round, which brings cumulative funding to date to $76m, was led by Northpond Ventures, with participation from existing investors Accel, Sequoia Capital, Sands Capital Ventures, and RA Capital Management. In conjunction with the funding, Michael P. Rubin, M.D., Ph.D., Founder and CEO at Northpond, will join the Mitra board.
The company intends to use the funds to expand its commercial efforts, while also continuing to build the clinical evidence necessary to accelerate adoption and secure reimbursement in the U.S. and other key markets.
Founded in 2010 by Mallikarjun Sundaram, President and CEO, Mitra is advancing the CANscript™ platform, which delivers individualized treatment response predictions — with high correlation to clinical outcomes — to inform patient-specific cancer treatment selection and support efficient cancer drug development.
The company also maintains a research and laboratory presence in Bengaluru, India.