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NGS-based Cancer MDx Firm Lifecode Raises $20.5M, Receives CAP Accreditation

NEW YORK (GenomeWeb) – Lifecode today announced a previously undisclosed Series A Round in financing that raised $20.5 million. The firm also said it received accreditation from the College of American Pathologists. 

The $20.5 million financing was led by Sequoia Capital, Mayo Clinic, and Mayo Ventures. Based in Foster City, Calif., and previously called Silicon Valley Biosystems, Lifecode was founded two years ago and is developing next-generation sequencing-based cancer assays to detect and interpret genomic alterations in patient tumor samples.

Last month the company launched its Pan Cancer Somatic Panel to select physicians in the US with plans to commercialize it more broadly in the spring. 

Lifecode received CAP accreditation following an inspection of its staff qualifications, equipment, quality controls, safety programs, records, and overall management of clinical laboratories. In June 2013, Lifecode received CLIA certification from the California Department of Public Health.