Strata Oncology, an Ann Arbor, Mich.-based precision oncology platform company, closed a $26m Series B funding round.
Backers included new investors Pfizer Ventures, Merck Global Health Innovation Fund, Deerfield Management and Renaissance Venture Capital Fund and existing investors Arboretum Ventures and Baird Capital.
Led by Dan Rhodes, PhD, CEO, Strata Oncology systematizes precision oncology across a network of health systems and pharma companies. It enables health systems to deliver a system-wide precision oncology program, which integrates molecular profiling and precision therapy trials with routine care. This network of trial-ready health systems provides a mechanism to rapidly and predictably enroll precision therapy trials.
The company will use the new funding to:
– Expand the Strata Precision Oncology Network, a group of health systems adopting the platform to systematize tumor molecular profiling and precision therapy trials.
– Further develop clinical-genomic data and software solutions to streamline health system precision oncology workflows and catalyze new clinical research opportunities.
– Submit its tumor molecular profiling assay, StrataNGS, for approval by the US Food and Drug Administration.
– Launch the Pan-cancer molecular Analysis for cancer THerapy (PATH) study, a Strata-sponsored master therapeutic protocol, to support rapid and cost-effective indication expansion studies for on-market pharma drugs.