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Admera Health Completes Series A Funding Round

NEW YORK (GenomeWeb) – Admera Health today announced it has completed a Series A financing round.

The New Jersey-based molecular diagnostics firm did not disclose the sum raised in the funding round, but said it is planning to use the capital to "expand operations aggressively" and accelerate product development efforts.

The financing round was led by investment firm Prime Value Capital Management (PVCM) and was joined by Sungent Bioventure, a venture capital firm based in Suzhou, China. PVCM's founding partner Chenhui Wen will join Admera's board of directors, Admera said.

Admera markets the 25-gene pharmacogenomics panel PGxOne Plus and OncoGxOne for guiding treatment decisions for cancer patients, and it performs DNA sequencing and mutational analysis of EGFR and KRAS from tumor tissue and blood. The company, which was formed in 2012 as an independent unit under parent firm Genewiz, runs the tests in its lab that is CLIA certified and accredited by the College of American Pathologists.

"The proceeds from the Series A financing will not only allow Admera to accelerate the market penetration of its existing commercial products, but also support research and development for our robust product pipeline," Admera President Guanghui Hu said in a statement.