Strata Oncology, Inc., an Ann Arbor, Mich.-based precision oncology company advancing molecular indications for cancer therapies, raised $90m in Series C financing.
Wellington Management led the financing and was joined by other new investors including Cormorant Asset Management, Monashee Investment Management and Highside Capital Management. Strata Oncology’s existing investors, including Pfizer Ventures, Merck Global Health Innovation Fund, Arboretum Ventures, Deerfield Management, Baird Capital and Renaissance Venture Capital Fund also participated in the financing, which brings the company’s total raised to date to over $130m since inception.
The proceeds will be used to accelerate the development of Strata Oncology’s personalized minimal residual disease (MRD) assay for early-stage cancers and advance its pipeline of novel RNA-based treatment selection tests for solid tumors.
Led by Dan Rhodes, Ph.D., co-founder and Chief Executive Officer, Strata Oncology is a precision oncology company involved in expanding its comprehensive genomic and transcriptomic profiling platform to deliver a portfolio of treatment selection tests for solid tumors. The platform, which integrates comprehensive genomic profiling and highly quantitative RNA expression profiling, enables comprehensive molecular insights from a single, minute tumor tissue specimen.