NEW YORK – Life sciences and health data startup Seer announced today that it has raised $17.5 million in a series C financing round.
The San Francisco-based firm noted that it will use the proceeds for multiple initiatives, including the continued development of its Proteograph platform; building its proteomic database; progressing discovery programs for multiple indications; and developing liquid biopsy products for early disease detection, with an initial focus on oncology and neurology.
Seer said that the Proteograph platform will provide quick, cost-effective, and broad-scale proteomic profiling with high accuracy and precision. The firm will apply machine learning algorithms to analyze the high volume of proteomic data and produce population-level disease insights, which it will then use to develop liquid biopsy assays to detect diseases in presymptomatic stages.
The funding round included new investors Wing VC and Aju IB, in addition to existing investors Maverick Ventures, Invus, as well as institutional and private investors.
"Our enduring vision is to provide proteomic information at scale," Seer CEO and Founder Omid Farokhzad said in a statement. "To that end, we've recently made significant advancements in our Proteograph platform, particularly with respect to speed, cost, and protein coverage."