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On-Q-ity Adds $5M to Series A Financing Round

NEW YORK (GenomeWeb News) – Cancer diagnostics startup On-Q-ity said yesterday that it has received a $5 million investment from Atlas Ventures, bringing its total Series A financing funding to $26 million.

In November, On-Q-ity closed the first $21 million Series A financing round, which was led by MDV-Mohr Davidow Ventures. Bessemer Venture Partners, Physic Ventures, and Northgate Capital also participated in the financing.

On-Q-ity will use the funds to support the development of a biomarker-based diagnostic for predicting and monitoring cancer treatment effectiveness. The diagnostic platform combines DNA repair biomarkers with microfluidic chips that enable the capture, enumeration, and characterization of circulating tumor cells in a patient's bloodstream.

"We believe On-Q-ity will bring about a paradigm shift in how medical oncologists treat their patients in the near future," stated Bruce Booth, a partner with Atlas Ventures.

In connection with the financing, Booth will join On-Q-ity's board, which includes MDV Partner and former Affymetrix President Sue Siegel; Steve Kraus from Bessemer Venture Partners; and Dion Madsen from Physic Ventures.

On-Q-ity was founded in May following the merger of DNA Repair and Cellective Dx, a pair of MDV-Mohr Davidow portfolio companies.

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