NEW YORK (GenomeWeb) – Strata Oncology announced today that it has closed a $26 million Series B funding round.Â
Existing investors Arboretum Ventures and Baird Capital were joined in the round by new investors Pfizer Ventures, Merck Global Health Innovation Fund, Deerfield Management, and Renaissance Venture Capital Fund.
Strata plans to use the money to expand its Precision Oncology Network — a group of health systems that have adopted the company's platform for systematic tumor molecular profiling and precision therapy trials.
The company also said it will use the funds to sponsor a master therapeutic protocol trial, the Pan-cancer molecular Analysis for cancer THerapy (PATH) study, as well as to support efforts to expand its data and software solutions and fund efforts related to the submission of its DNA and RNA tumor molecular profiling assay, StrataNGS, for approval by the US Food and Drug Administration.