ArcherDX, Inc., a Boulder, Colo.-based molecular technology company dedicated to developing solutions that advance the application of personalized genomic medicine, closed an up to $60m Series B financing round.
The round was led by Perceptive Advisors, with participation from existing investors PBM Capital, Boulder Ventures, Longwood Fund and Peierls Foundation.
The company intends to use the funds to scale operations, advance its companion diagnostic program that spans solid tumors, hematological malignancies and circulating tumor DNA (ctDNA) applications, and expand its minimal residual disease monitoring program accelerating access to a greater than $20 billion worldwide market opportunity.
Led by Jason Myers, co-founder and chief executive officer, ArcherDX has developed a liquid biopsy-based minimal residual disease monitoring solution that combines Anchored Multiplex PCR (AMPTM) chemistry with a proprietary algorithm to construct optimal patient-specific assays that are intended to be used to monitor disease and detect progression or recurrence earlier than current standard of care testing.
The company plans to develop the assay as a decentralized or kitted in vitro diagnostic solution for global regulatory clearance, with the intention of improving test result turn-around time and lowering per patient testing costs.
To date, ArcherDX has raised up to $95m in financing.