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Definiens Raises $20.4M in Private Financing Round

NEW YORK (GenomeWeb) – Definiens announced today that it has raised €15 million ($20.4 million) in a private round of financing that will support the firm's efforts to expand its business into digital tissue diagnostics.

The Munich, Germany-based digital pathology products firm said the funds will help it advance its tissue phenomics strategy, which is based on its Cognition Network technology, a big data approach to developing tissue-based diagnostics for oncology and immunotherapy. Definiens believes its strategy will enable better prediction of patient outcomes and identification of drug responders.

The financing round was led by Wellington Partners with participation from Glide Healthcare and existing investors Cipio Partners and TVM Capital. In conjunction with the financing, Wellington General Partner and Managing Director Rainer Strohmenger will join Definiens' board of directors.

"We believe that Definiens now is approaching an inflection point which will have a significant impact on the growth potential and strategic value of this business for the leading players in imaging, diagnostics, and oncology drug development," Strohmenger said in a statement.