Variantyx, a Boston, MA-based hereditary disease testing company, secured $20M in Series C funding.
The round was led by GHS Fund (Quark Venture LP and GF Securities) and includes new investor, IBM Ventures and current investors, Pitango Venture Capital, New Era Capital Partners, 20/20 HealthCare Partners. In conjunction with the funding, Zafrira Avnur, PhD, Quark Venture Chief Scientific Officer & Partner, will join the Variantyx board of directors.
The company intends to use the funds for development of its tumor diagnostic solutions and the expansion of sales.
Led by Haim Neerman, CEO, Variantyx is a CLIA/CAP laboratory providing Genomic Unity®, a whole genome sequencing (WGS)-based testing program for diagnosis of rare inherited disorders. Its single method approach to comprehensive genetic testing identifies multiple variant types within a single patient sample to provide a unified clinical report.
WGS is a testing technique that identifies changes in genes that lead to illness. WGS examines the entire genome which provides physicians with insights into current and future medical puzzles related to genetics.