NEW YORK (Genomeweb) – ArcherDx said today that it has closed a $35 million Series A round of preferred financing.
The round was led by Boulder Ventures and PBM Capital Group, and included new investors Longwood Fund and Peierls Foundation. In conjunction with the financing, Boulder Ventures Founder and General Partner Kyle Lefkoff has joined ArcherDx's board.
The company said it will use the funding to support the commercial growth of its targeted sequencing assays by expanding its domestic salesforce, increasing its international commercial operations, and further investing in its companion and in vitro diagnostic pipelines.
"This round of funding ... will help us to execute on our mission of providing the best molecular pathology tools both in research and clinical settings on a global scale," ArcherDx Cofounder and CEO Jason Myers said in a statement.
In addition to its research products for genetic mutation identification and discovery, ArcherDx is developing companion diagnostics in collaboration with Celgene and Ignyta. It also recently partnered with HeliTec on the development of next-generation sequencing cancer diagnostics for the Chinese market.