NEW YORK (GenomeWeb) – ArcherDx announced today that it has raised $60 million in a Series B financing round.
ArcherDx said it will use the proceeds from the funding round to scale operations and advance its companion diagnostic program, which includes solid tumors, hematological malignancies, and circulating tumor DNA applications. The firm will also use the funding to further expand its minimal residual disease (MRD) monitoring program.
ArcherDx's liquid-biopsy MRD technology integrates its anchored multiplex PCR (AMP) technology with an algorithm to build patient-specific assays, which it plans to use for monitoring disease and detecting progression or regression earlier than standard tools.
The round was led by Perceptive Advisors, and includes existing investors PBM Capital, Boulder Ventures, Longwood Fund, and the Peierls Foundation.
"We believe this financing affirms the progress we've made with our companion diagnostic program and enables us to take advantage of the unique technology and assay customization capabilities we've developed to establish a leadership position in the emerging minimal residual disease monitoring market," ArcherDx Cofounder and CEO Jason Myers said in a statement.
In March, ArcherDx partnered with University College London and the Francis Crick Institute to use the firm's AMP technology on lung cancer research.