Veracyte Completes $28M Series C Financing

Veracyte, Inc., a South San Francisco, Calif.-based molecular diagnostics company in the field of molecular cytology, completed the final tranche of its $28m Series C financing.

The round included new investor GE Ventures, as well as existing investors Domain Associates, Kleiner Perkins Caufield & Byers, TPG Biotech, and Versant Ventures.

The company intends to use the funds for the commercial expansion of its first product, the Afirma® Thyroid FNA Analysis, and investment in its product pipeline.

Led by Bonnie Anderson, co-founder and chief executive officer, Veracyte focuses on discovering, developing and commercializing molecular diagnostic solutions that enable physicians to make more informed treatment decisions at an early stage in patient treatment, helping patients avoid unnecessary invasive procedures. Its first product – the Afirma® Thyroid FNA Analysis – was launched in 2011 and combines specialized cytopathology assessment with the Afirma Gene Expression Classifier, a genomic test that clarifies inconclusive thyroid nodule results as benign or suspicious for cancer.
The company has a global co-promotion agreement with Genzyme, a Sanofi company, to make the Afirma Thyroid FNA Analysis more broadly available.



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