Mitra Biotech completes $40M financing round
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.