NEW YORK — Mindera Health said Wednesday that it has closed a $14 million convertible note financing, the proceeds of which will be used to roll out a test for determining a patient's response to psoriasis treatments.
The financing was led by Mountain Group Partners and other existing investors and comes ahead of a planned Series B financing round in 2025, according to Mindera. The San Diego-based company raised $1 million in seed money in 2015, as well as $38.2 million in subsequent years through various Series A rounds.
Mindera said that it will use the convertible note to fund the commercialization of Mind.Px, which comprises a minimally invasive dermal patch designed to capture more than 7,000 RNA biomarkers in a psoriasis lesion for analysis via next-generation sequencing. The resulting data can then be used to predict how a patient will respond to biologic treatment, the firm said.
"The use of Mind.Px can effectively eliminate today’s trial-and-error approach to psoriasis treatment by providing physicians, patients, and payors with a powerful tool to guide the individual patient to an efficacious drug class based on their biomarker profile," Mindera CEO Ron Rocca said in a statement.