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PGDx Raises $21.4 Million in Series A Financing Round

NEW YORK (GenomeWeb) – Personal Genome Diagnostics today announced that it has raised $21.4 million in a Series A funding round, which will support its business in cancer genome sequencing.

The round was led by New Enterprise Associates. Other participants in the financing included Windham Venture Partners and Nanjing Kaiyuan Growth Capital Investments.

In conjunction with the financing, PGDx said that NEA Partner Justin Klein will join PGDx's board of directors, alongside Co-founders Luis Diaz and Victor Velculescu. Felix Dawson and Adam Fine of Windham Venture Partners will also join the board as observers.

PGDx offers next-generation sequencing-based cancer diagnostic panels, including clinical targeted sequencing and research-based services for both tissue- and blood-based tumor profiling.

In a statement, Velculescu, the company's chief scientific officer, said that the company looks forward to using its newly raised funds to "bring the benefits of our advanced technologies and services to researchers, clinicians, and patients seeking improved cancer treatments and outcomes."

To accommodate anticipated rapid growth from its current roster of 63 employees, PGDx also said it plans to expand into a new 25,000-square-foot Baltimore facility in 2016.