(Photo by Flickr user Luca Volpi, used under a Creative Commons license)
A Johns Hopkins spinout that focuses on genome analysis for cancer patients closed a whopping $21.4 million funding round.
The Series A for Personal Genome Diagnostics was led by New Enterprise Associates, the VC giant that has Baltimore roots. Windham Venture Partners and Nanjing Kaiyuan Growth Capital Investments also participated in the round. The five-year-old company’s only other outside financing is a $2.8 million seed round in 2014.
With the new funding, company will ramp up growth of its technology offerings, which are used to sequence genomes and detect alterations in tumors with cancer. With the growth, the company plans to move to a new space from its current Canton headquarters. A spokeswoman declined to state where the new 25,000-square-foot space would be located, only saying it is near the current office and in Baltimore city.
The company was founded in 2010 by Hopkins cancer researchers Victor Velculescu and Luis Diaz, and offers products for patients and their doctors, as well as labs and researchers to help understand the genetic information behind different forms cancer. The company also works with a company formed by genomics legend J. Craig Venter.
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