ArcherDX, Inc., a Boulder, Colo.-based molecular diagnostics company dedicated to developing solutions that advance the application of personalized genomic medicine, closed a $55m Series C financing.
The round was led by Perceptive Advisors, which was joined by new investors Redmile Group, Soleus Capital, Driehaus Capital Management and ArrowMark Partners, as well as existing investors Sands Capital, Longwood Fund, PBM Capital and its affiliates, Boulder Ventures and others.
Proceeds of the financing are intended to be used in part to expand the ArcherDX global commercial presence, support the registration and launch of the STRATAFIDE™ pan-solid tumor companion diagnostic (CDx) and, in concert with ongoing biopharma collaborations, to support development of its Personalized Cancer Monitoring (PCM) platform.
Led by Jason Myers, Ph.D., co-founder and chief executive officer, ArcherDX is advancing molecular diagnostics with a technology platform for genetic mutation detection by next-generation sequencing. By combining patented Anchored Multiplex PCR (AMP™) chemistry in a lyophilized format and bioinformatics software, the platform enhances genetic mutation identification.
Based on patented technology, with more than 150 peer-reviewed publications, STRATAFIDE identifies actionable genomic alterations in tissue or blood samples, including alterations targeted by emerging therapies undergoing clinical trials, therapies already recommended in clinical guidelines such as NCCN, and therapies approved by the FDA. STRATAFIDE allows tissue and blood samples to be analyzed at any local lab with a sequencer, thereby enabling faster turnaround times, while providing physicians with critical information needed to deliver targeted, personalized care. It was granted FDA Breakthrough Device Designation in January 2019.