US-based precision medicine developer Pathway Genomics has secured more than $40m in a series E round that included IBM Watson, computing company IBM’s cloud data subsidiary.
Pathway did not disclose the other investors in the round, which increased Pathway’s overall funding to more than $130m. It expects to raise additional series E funding in the first quarter of this year.
Founded in 2008, Pathway operates a medical laboratory that provides precision healthcare information covering cancer risk, cardiac health, inherited diseases, nutrition, exercise and drug response to patients in 40 countries.
IBM Watson and Pathway are collaborating on a mobile app that uses artificial intelligence and deep learning to analyse personal genetic information in order to supply personalised health and wellness information to individuals.
Jim Plante, founder and CEO of Pathway Genomics, said: “I am proud that Pathway is now recognised as a pioneer in the genetic testing industry known for providing affordable and clinically actionable tests not just in the US, but in many countries that don’t have access to this type of advanced genetic testing.
“This capital will allow us to continue to expand and validate the tests we offer, grow our sales force, and invest in cutting edge technology for our CAP and CLIA accredited laboratories.”
Pathway has not disclosed information regarding individual funding rounds in the past but its early investors included Founders Fund, Edelson Technology Partners and Western Technology Investment.
– Image courtesy of Pathway Genomics