Paradigm Diagnostics, a Phoenix, AZ-based precision medicine company focused on cancer diagnostics, raised $15m in Series B funding.
Backers included founding investors Mesa Verde Venture Partners, New Science Ventures, Prairie Ventures, Gore Range Ventures, the Tech Coast Angels’ San Diego (TCA-SD), OSF HealthCare Ventures, and BlueStone Venture Partners. In conjunction with the funding, Mara Aspinall, Managing Director of BlueStone Venture Partners, joined Paradigm’s Board of Directors. John Friedman, a Managing Director of Gore Range Capital and 39-year veteran of the venture capital industry and lead and co-lead investor in Conor MedSystems, Blue Bird Bio, Acorda, and CardioVascular Systems, Inc., among others, has also joined as a Board Observer.
The company intends to use the funds for rapid commercialization of its flagship product, the Paradigm Cancer Diagnostic (PCDx).
Led by David Mallery, co-founder, chairman and CEO, Paradigm Diagnostics is a precision medicine company that leverages technology, bioinformatics and proprietary sequencing to perform the Paradigm Cancer Diagnostic (PCDx) that comprehensively identifies the best evidence-based treatments that may improve a cancer patient’s progression-free survival.
It delivers results quickly (3-5 business days) and is able to provide comprehensive next-generation sequencing (NGS) results including mutational load off of a single slide.