Mi­tra Biotech com­pletes $40M fi­nanc­ing round

BioSpectrum (India) - - FINANCE NEWS -

Mi­tra RxDx (Mi­tra Biotech), a pri­vately held biotech com­pany and global leader in ad­vanc­ing truly per­son­al­ized on­col­ogy treat­ment, re­cently an­nounced the com­ple­tion of a $40 mil­lion fi­nanc­ing round. The round was led by North­pond Ven­tures, head­quar­tered in Bethesda, Mary­land. Ex­ist­ing in­vestors Ac­cel, Se­quoia Cap­i­tal, Sands Cap­i­tal Ven­tures, and RA Cap­i­tal Man­age­ment also par­tic­i­pated. Cu­mu­la­tive fund­ing to date now totals $76 mil­lion. Founded in 2010, Mi­tra is head­quar­tered in Greater Bos­ton and main­tains a sig­nif­i­cant re­search and lab­o­ra­tory pres­ence in Ben­galuru, In­dia. Mi­tra’s CANscript plat­form de­liv­ers pow­er­ful, in­di­vid­u­al­ized treat­ment re­sponse pre­dic­tions — with ex­cep­tion­ally high cor­re­la­tion to clin­i­cal out­comes — to in­form pa­tient-spe­cific cancer treat­ment se­lec­tion and sup­port more ef­fec­tive and ef­fi­cient cancer drug de­vel­op­ment. These funds will be used to ex­pand the com­pany’s com­mer­cial ef­forts, while also con­tin­u­ing to build the clin­i­cal ev­i­dence nec­es­sary to ac­cel­er­ate adop­tion and se­cure re­im­burse­ment in the US and other key mar­kets.

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