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Encodia Closes $75M Series C Round

NEW YORK – Proteomics firm Encodia said on Wednesday that it has closed a $75 million Series C funding round.

The San Diego-based company said it plans to use the funds to speed development of its ProteoCode proteomics platform, which combines nucleic acid-based tagging of peptides with next-generation sequencing to make protein measurements.

The round was led by Northpond Ventures and Deerfield Management and joined by GV, Alexandria Venture Investments, and existing investors ARCH Venture Partners, Biomatics Capital, Decheng Capital, Tao Capital Partners, and Nan Fung Life Sciences.

Sharon Kedar of Northpond and Andrew ElBardissi of Deerfield are joining Encodia's board of directors, the firm also noted.

"Our aim is to deliver a system that enables researchers to probe the immense complexity of the proteome routinely and at a scale that was previously unattainable," Encodia CEO Mark Chee said in a statement. "Our ambition is to help researchers realize a more integrated view of biology and, thus, accelerate progress in biomedical research."