US-based molecular diagnostics company Lifecode has raised $20.5m in a series A round co-led by non-profit medical practice Mayo Clinic, its corporate venturing arm Mayo Ventures, and venture capital firm Sequoia Capital.
Lifecode has developed an assay that presents genomic and therapeutic data gained from next-generation sequencing in a meaningful way to doctors, patients and providers, and is initially focusing on oncology.
The platform uses a mixture of tools such as machine learning, algorithms, and pathology to manage information about newly approved drugs and those currently in various phases of clinical trials in order to help doctors to choose the best possible treatment based on the sequencing data.
Concurrently, Lifecode revealed it has received full accreditation from US College of American Pathologists, the world’s largest association of pathologists responsible for lab quality assurance.