private financing

The company has raised $30 million to date to fund development and commercialization of its molecular diagnostic test to predict response to anti-TNF therapies.

The firm did an initial close of its Series A financing round and will pursue additional investments during Q1 2020 when the round is anticipated to close.

The financing was led by HealthQuest Capital, with participation from 5AM Ventures and RareCyte founder Ron Seubert, and follows a $30 million round in 2017.

The company said that it plans to use the funds to develop and commercialize its Proteograph proteomics platform for research and clinical applications.

Perceptive Advisors led the round, joined by new and existing investors. ArcherDx will use the proceeds to launch a companion diagnostic and expand globally.

The company said it will use the funds to accelerate the development of applications for its Onyx Digital Genome Engineering platform.

The financing will go toward building out its sales teams in the US and Europe in order to market its multiplexed MDx tests for infectious diseases.

The Redwood, California-based company plans to use the funding to drive the commercial launch of its semiconductor chip-based sequencing-by-synthesis instrument.

The Series A financing will go toward expanding access to its liquid biopsy-based test to more patients in Asia and North America, it said.

The firm will use funds from the round, led by the Midlands Engine Investment Fund, to develop its optical point-of-care diagnostic testing platform.