Canada-based oncological medicine company GenomeDX Biosciences completed its series A funding round on Monday, having raised an undisclosed amount.
The round was co-led by Aeris Capital, the venture capital (VC) firm formed by Klaus Tschira, a co-founder of software conglomerate SAP, and Baird Venture Partners, a venture capital fund operated by Baird Private Equity. Additional participation came from VC firm CD-Venture and unnamed angel investors.
GenomeDX is the developer of diagnostic tests for cancer that work on a molecular level, allowing for personalised treatment for each patient based on genomics. The company’s long term aim is to make genomic information more easily accessible for doctors, leading to personalised medicinal support becoming more widespread and cost-effective.
George Rehm, managing partner at Aeris Capital, said: "One of the greatest challenges faced by the current healthcare system is the ability to provide high quality, personalised care to cancer patients, while also containing the rising cost of this care. The GenomeDx team has developed an innovative technology that will have significant benefits for cancer patients as well as the healthcare system as a whole."
In conjunction with the funding, Rehm will join GenomeDX’s board of directors along with Mike Liang, a partner at Baird Venture Partners.