The New York-based firm will use the funding to develop and clinically validate its personalized, real-time tool for monitoring recurrence and treatment response for various sold cancer types.
ArcherDx has leveraged next-generation sequencing to develop and commercialize more than 325 research-use-only products and a pan-solid tumor diagnostic test.
The Oxford, UK-based firm announced the closure of a seed financing round this week as well as plans to develop a methylation-based blood test for early-stage cancer detection.
The startup aims to develop a low-cost, high-throughput proteomics platform that combines biochemistry with computer science and information technology.
Silicon Valley venture capital firm Andreessen Horowitz led the round, joined by 8VC, SV Angel, Allen & Co, and several other undisclosed private investors.
The company said the funds will support the continued development and commercialization of its genome-wide methylation assay for multi-cancer early detection.
Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.
