GenomeDX Biosciences Secures Series A Financing Led By Baird Venture Partners And Aeris Capital
VANCOUVER, British Columbia, January 9, 2012
GenomeDx Biosciences Inc, a molecular diagnostic company, announced today it has closed a Series A financing round led by Baird Venture Partners (“BVP”), the U.S. venture capital fund of Baird Private Equity, and aeris CAPITAL AG. CD Ventures and individual investors also participated in the financing round.
GenomeDx develops and commercializes molecular diagnostic tests and clinical support tools for the personalized medicine revolution in cancer care. In partnership with physicians and scientists at leading academic medical institutions, the company’s mission is to bring cost-effective and actionable genomics into standard clinical use in cancer medicine. By analyzing the underlying biology of cancer and using the genomic information that lies within individual patients, the GenomeDx portfolio of tests will enable personalized therapeutic decisions for cancer patients faced with complex choices.
“Utilization of human genomic information is dramatically altering the manner in which cancer is treated and managed by healthcare professionals,” said Doug Dolginow, M.D., CEO of GenomeDx. “We are excited to be partnering with BVP, aeris and CD Ventures as we pursue our vision of making genomic information more accessible to oncology professionals and enabling them to enhance care of their cancer patients for better outcomes.”
“Our robust network of operating professionals has been instrumental in facilitating this investment,” said Mike Liang, Ph.D., BVP Partner. “We began tracking the company more than two years ago, when we were introduced to it by founder Tim Triche, M.D., Ph.D., a member of our Advisory Board.”
“One of the greatest challenges faced by the current healthcare system is the ability to provide high quality, personalized 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.” said George Rehm, managing partner at aeris CAPITAL.
As part of this financing, Liang and Rehm will join the GenomeDx Board of Directors.
About Genome Dx Biosciences
GenomeDx Biosciences Inc. is a personalized medicine company focused on the development and commercialization of genomic based diagnostic and prognostic tools that analyze the biology of cancer to improve the treatment decision-making process by recognizing the importance of each patient’s unique set of genetic information. For more information, visit genomedx.com
About Baird Venture Partners
Baird Venture Partners, the U.S.-based venture capital fund of Baird Private Equity, makes venture capital investments in early and expansion stage business services and life sciences companies. Baird Venture Partners leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. Baird Private Equity is the global private equity group of Robert W. Baird & Co. (Baird). For more information, please visit bairdventurepartners.com
About aeris CAPITAL AG
aeris CAPITAL is a Swiss-based investment advisory company, working on behalf of one of Europe`s largest private foundations. aeris advises and manages its principal in extensive direct investments in innovative molecular diagnostic, therapeutic, tools, and medical device companies in both Europe and the US, as well as in technology and sustainable energy firms, in addition to its significant mandates in other asset classes globally.