Variantyx Secures $20M Debt Financing to Support Precision Medicine in North America, Europe
NEW YORK – Variantyx said Tuesday that it has secured $20 million in debt financing from Kreos Capital. The genomic analysis company plans to use the additional cash to grow in the North American and European precision medicine markets, particularly in cancer.
Framingham, Massachusetts-based Variantyx offers a proprietary whole-genome analysis platform to support testing and diagnostics for rare genetic disorders, reproductive health, and precision oncology.
“Variantyx has built a unique and advanced platform for precision medicine, and its ability to process the whole genome sets it apart in the genomic diagnostics market. Our funds, which enhance the company’s already strong capital position, will allow it to significantly scale up its commercial efforts,” Aris Constantinides, general partner of London-based Kreos Capital, said in a statement.
Variantyx completed a $41.5 million Series C-2 funding round earlier this year, which supported the launch of the analysis platform. That built on a $26 million Series C that closed in two stages in 2021.
The company started with a proprietary WGS-based testing method for diagnosing rare inherited and neurological disorders but expanded into oncology and prenatal testing last year.