NEW YORK (GenomeWeb News) – AssureRx Health has closed on an $11 million Series B round of private financing, the Cincinnati-based firm said today.
AssureRx is developing pharmacogenomic tests specifically for neuropsychiatric patients. Its GeneSightRx technology uses DNA from a cheek swab to measure and analyze genetic variants to determine how a patient will respond to psychotropic medications.
The firm said it will use the funds to expand its direct sales and marketing for GeneSightRx and for developing second-generation products.
The round of financing was led by Claremont Creek Ventures and Sequoia Capital. It also included existing investors Cincinnati Children's Hospital Medical Center, Mayo Clinic, and CincyTech, as well as new investor Allos Ventures. As part of the financing, John Steuart and Brad Webb of Claremont Creek Ventures have joined AssureRx's board of directors.
"Our goal is to build the leading medical informatics company providing pharmacogenetic and other treatment decision support products to help physicians individualize the treatment of patients with neuropsychiatric and other disorders," AssureRx President and CEO James Burns said in a statement.