The company believes it can provide tests to predict patients' responsiveness to specific drugs akin to the molecular diagnostics that have now swelled the oncology space.
Led by investigators at the University of Trento in Italy, the team received a five-year, £5 million ($6.4 million) award recently to advance its work.
A tick-borne disease working group recommends the federal government explore using new technologies and repurposing existing ones to improve diagnosis.
RNA sequencing of patient-derived fibroblasts was able to provide 10 percent of patients with a diagnosis after whole-exome sequencing had failed.
The company plans to use the proceeds to support research collaborations and to expand its commercial team.
ReadCoor is currently using its its technology to map neural circuits in the brain and has projects in the pipeline related to oncology and infectious disease.