Strata Oncology, a US-based developer of precision cancer care technology, has completed a $26m that included subsidiaries of pharmaceutical firms Pfizer and Merck & Co.
Pfizer Ventures and Merck Global Health Innovation Fund (Merck GHI) invested alongside Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures and Baird Capital.
Strata has created a platform that helps healthcare providers put together a singular precision oncology treatment program that incorporates molecular profiling and precision therapy, and which can be provided cost-effectively at scale.
Prem Tumkosit, investment principal at Merck GHI, said: “We believe that data is the future currency of healthcare. Strata’s platform will generate and leverage clinical-genomic data to drive precision trial enrolment and advance cancer care.”
The funding will go to the expansion of Strata’s Precision Oncology user network as well as strengthening its clinical and genomic data software. The company also intends to apply for regulatory approval of its tumour molecular profiling assay.
Arboretum Ventures and Baird Capital had previously co-led the company’s $12m series A round in mid-2016. Michigan eLab, which had previously supplied it with seed capital, also participated.