Pillar Biosciences, a Natick, Mass.- and Shanghai, China-based NGS clinical cancer diagnostics company, closed a $29.7m Series C financing.
The round was led by ORI Healthcare Fund.
The company intends to use the funds to accelerate the expansion of in vitro diagnostic and research use only panels and advance its global commercial outreach.
Led by Dr. Gang Song, founder and CEO, Pillar Biosciences is a clinical cancer diagnostics company whose SLIMamp®- and PiVAT®-based products help high-throughput reference laboratories and clinical oncology laboratories boost their diagnostic productivity.
Recently, a Pillar custom product received approval from New York State Department of Health. The company was also granted CE approval for its first in vitro diagnostic panel, the Pillar® ONCO/Reveal® Lung and Colon Cancer Assay, which guides the prescription of six different therapies simultaneously, reduces the need for repeat testing, and allows for treatment decisions in 4 days. Panels are compatible with Illumina®, Ion Torrent™, and MGI™ sequencing platforms. Pillar also recently secured distributors in Israel, Hong Kong, Macau, South Korea, and ASEAN countries.