NEW YORK (GenomeWeb) — Agendia said today that it has raised $35 million in a deal with healthcare investment firm Athyrium Capital Management.
As part of the deal, Athyrium will receive a non-executive director seat on Agendia's board.
Agendia said it plans to use the proceeds of the financing to accelerate its commercial expansion in the US and other markets, including boosting adoption of its MammaPrint BluePrint next-generation sequencing-based kit for breast cancer recurrence risk testing and molecular subtyping.
The kit, which received CE marking earlier this year, is an RNA-sequencing based version of Agendia's existing MammaPrint and BluePrint tests, which are performed at the company's clinical laboratories in Irvine, California and Amsterdam.
Agendia said the financing will also support its investment in big data programs such as its ongoing full-genome profiling trials in the US and the Netherlands, as well as the establishment of new collaborative research programs for its precision oncology pipeline.