Circular Genomics, an Albuquerque, NM-based company which specializes in advancing circular RNA biomarkers for precision psychiatry and neurology, raised $8.3M in Series A funding.
The round was led by Mountain Group Partners, with participation from new investor UNM Rainforest Innovations in addition to initial investors, including Cottonwood Technology Fund, Tramway Venture Partners, and other undisclosed individuals.
The company intends to use the funds to build and scale commercial operations in preparation for the launch of its circular RNA-based clinical assay.
Led by CEO Dr. Paul Sargeant, Circular Genomics is a developer of circular RNA-based precision medicine tools, data and diagnostics for psychiatry and neurology. Leveraging exclusive licenses and technologies in circular RNA, It work for major depressive disorder and other neurological diseases. Initial products include assays to assess and tailor optimal treatment protocols for individual patients, validating treatment effectiveness within days to weeks rather than months.
Commenting on the news, Dr. Paul Sargeant said: “We plan to launch our first test in 2024, which will predict response to SSRI antidepressants, addressing the issue of high therapy failure rates, and low clinical outcomes. Furthermore, the launch of this first assay paves the way for a set of tests covering the complete patient care continuum in major depression, and using the same circular RNA platform, in other neurological diseases too.“
FinSMEs
24/01/2024