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Mental Health PGx Firm Assurex Health Nabs $30M Financing

NEW YORK (GenomeWeb) – Assurex Health today announced it has raised $30 million to support the clinical adoption and development of the firm's GeneSight neuropsychiatric pharmacogenomic products. 

Participants in the financing included new investors American Financial Group and Cross Creek Advisors, as well as existing investors Cincinnati Children's Hospital Medical Center, Sequoia Capital, Claremont Creek Ventures, Mayo Clinic, CincyTech, Allos Ventures, and Danmar Capital.

In May, Assurex said that it attracted $7 million in investments. Today's $30 million figure is in addition to the May financing and brings the total equity investment in the firm to $60 million, a spokesman for the company told Genomeweb.

The GeneSight technology is based on combinatorial pharmacogenomics, and Assurex said that more than 9,000 clinicians have used GeneSight products in making treatment decisions for more than 125,000 patients. The Mason, Ohio-based firm also noted that the US Department of Veterans Affairs and Medicare recently added GeneSight's multi-gene psychotropic test to their coverage plans.

 

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