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Strata Oncology Raises $90M in Series C Financing

NEW YORK – Strata Oncology said Wednesday that it has completed a $90 million Series C financing, led by Wellington Management.

Other new investors include Cormorant Asset Management, Monashee Investment Management, and Highside Capital Management. Existing investors also participated, including Pfizer Ventures, Merck Global Health Innovation Fund, Arboretum Ventures, Deerfield Management, Baird Capital, and Renaissance Venture Capital Fund. JP Morgan served as sole placement agent.

The new funding brings the company's total financing raised to date to more than $130 million.

According to Strata, the funds will support the expansion of its genomic and transcriptomic profiling technology for cancer treatment selection. Specifically, the firm said it will use the proceeds to accelerate development of its personalized minimal residual disease assay for early-stage cancers and to advance its pipeline of novel RNA-based treatment selection tests for solid tumors.

The Scan

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