The company said it will use the proceeds of the financing to continue the development of a technology platform and associated applications.
China-based Burning Rock will develop cancer diagnostics for Chinese patients based on the Agilent SureSelect target enrichment system.
The partners will exchange all information they have on genetic mutations leading to cancer with an eye toward accelerating research and drug discovery efforts.
The company's diagnostic is being used to determine the eligibility of patients with solid tumors to participate in a Phase II trial of entrectinib.
The hospitals plan to use the Watson technology to help their clinicians personalize cancer treatment options for their patients.
The investment, which will be paid out over the course of five years, comes in part from industry sources.
The system will immune-profile the phenotypic and functional endpoints of cells and secreted proteins from cancer patients in order to inform treatment decisions.
The company said it plans to publish its findings on its early-detection cancer tests, and will work with CMS and the FDA on pre-market review.
Empire said it expects to generate $5 million or more in revenues from the Chinese market over the five-year term of the agreement with HemaTone.
COTA, which also received funding from HealthScape Advisors, said it aims to reduce the amount of money wasted on unnecessary medical treatment.
In PLOS this week: transcriptomic and genomic analysis of prostate cancer by ancestry, genes linked to liver function in Korean cohort, and more.
British Columbia is incorporating genomics into its tracking of the ongoing COVID-19 outbreak, Business in Vancouver reports.
An analysis by the Personalized Medicine Coalition finds that about a quarter of new drugs approved in 2019 by the US Food and Drug Administration were personalized medicines.
The governor of New York has proposed a five-year plan to study the genomes of people with or who are at high risk of developing Alzheimer's disease.