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Atlas Genetics Raises $35M in Series D Fundraising

NEW YORK (GenomeWeb) ­– Atlas Genetics announced today that it has completed a $35 million Series D financing round.

All of Atlas' Series C round investors — who contributed $20 million in January 2015 — participated in the Series D round. These include Novartis Venture Funds, Consort Medical, Johnson & Johnson Innovation - JJDC, Inc, Life Science Partners, BB Biotech Ventures, RMI Partners, and Technology Venture Partners.

The company also had one new investor — Chinese in vitro diagnostic assay developer Wondfo Biotech, based in Guangzhou, Guangdong Province.

Atlas announced that it had received CE marking on its rapid point-of-care io molecular diagnostic system and Chlamydia trachomatis assay last year. The new funding will now finance clinical trials and commercial launch of a combined test for chlamydia and gonorrhea, the company said, adding that it intends to seek regulatory approvals in the US for the CT/NG test near the end of 2017.

Part of the funding will also be applied toward menu expansion for the io system as well as increasing cartridge manufacturing capacity.

"We believe that Atlas Genetics is poised to become a world leader in POC molecular diagnostics and we plan to roll out new assays in a range of clinical areas over the next two years and beyond," Atlas CEO John Clarkson said in a statement.