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N-of-One Raises $7M in Series B Financing Round

NEW YORK (GenomeWeb) – N-of-One said today that it has raised $7 million in a Series B financing round from Providence Ventures and Excel Venture Management.

N-of-One said it plans to use the funds to expand its efforts to develop precision medicine-based clinical decision support solutions that provide physicians with a precise and scalable approach for matching patients to treatments and clinical trials. The proceeds will also be used to expand sales and marketing efforts in the US and other strategic global markets, the company said.

"This financing round marks a new and exciting chapter for N-of-One," CEO Chris Cournoyer said in a statement. "We look forward to collaborating with our lab and health system clients to incorporate clinical data along with the patient's molecular profile to provide further refinement of treatment options."

N-of-One has signed two deals this year — with Admera Health and Macrogen — to provide clinical interpretation services for patients tested with those companies' cancer panels. The firm also signed a deal with WuXi Nextcode in November 2015 to provide clinical and scientific evidence that supports personalized treatment recommendations made on the basis of WuXi's tumor-normal sequence interpretation.