Technology-Driven Precision Medicine Company Variantyx Secures $41.5M in Funding
FRAMINGHAM, Mass., Feb. 14, 2022 /PRNewswire/ — Variantyx, a technology-driven precision medicine company providing advanced genomic testing for the rare genetic disorders, reproductive health, and precision oncology markets, today announced they have secured $41.5M in funding. The series C-2 funding round, led by New Era Capital Partners and includes Peregrine Ventures, Robert Bosch Venture Capital, 20/20 HealthCare Partners, and Pitango HealthTech, will be used to fuel company growth and launch newly developed solutions across all markets, with a focus on precision oncology.
Variantyx is poised to take advantage of the rapidly growing global precision oncology market with access to North America and Europe, the largest and fastest growing regions respectively for oncology spending.
The Variantyx proprietary whole genome sequencing and analysis platforms allow healthcare providers and their patients to better understand a person’s genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations. The company’s precision oncology solution will use multiple genomic technologies to analyze and identify the unique genetic alterations in a patient’s tumor to help predict their response to various therapies, optimize management, as well as provide prognostic and clinical trials information.
“The funding is a great testament of confidence and trust in the company,” said Haim Neerman, CEO of Variantyx. “It allows us to expand our diagnostic solutions to a wider array of customers so that medical care can become more personalized. The growth of Variantyx has been exponential, and we look forward to sharing the new disruptive products we have in the pipeline.”
This marks a continuation of the long-standing relationship between Variantyx and New Era Capital Partners. “Variantyx is changing the way precision medicine is done with the most advanced platform on the market, which can detect a range of genetic findings through whole genome analysis. That makes a huge difference in the diagnostics and treatment market,” says Gideon Argov, Managing Partner at New Era Capital Partners. “We are excited to help take the company to the next level, making personalized medicine more widespread.”