NEW YORK – PinkDx emerged from stealth mode Thursday, announcing a $40 million series A financing that it plans to use to develop molecular diagnostic tests for gynecologic cancers using a multiomics and machine learning approach.
The financing was co-led by Catalio Capital Management, LP, and The Production Board. Other investors include Mountain Group Partners, Byers Capital, and Mayo Clinic.
"This funding, along with our best-in-class expertise, a proven discovery and development approach, and our commitment to clinical rigor, will enable us to solve critical challenges that today prevent women from receiving the best healthcare possible," said Bonnie Anderson, the company's cofounder, chairwoman, and CEO.
Anderson is the cofounder and prior CEO of diagnostics firm Veracyte, which pioneered the Afirma test, intended to reduce unnecessary invasive procedures in the evaluation of potentially cancerous thyroid nodules.
For PinkDx, the goal is similar — to improve diagnostic outcomes for women who present with vague gynecological cancer symptoms by developing molecular tests that can serve as alternatives to invasive and painful diagnostic procedures.