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Seer Closes $55M Funding Round

NEW YORK — Proteomics start-up Seer said today it has closed a $55 million funding round led by Fidelity Management and Research Company.

The firm said that it plans to use the funds to expand its research and development work and to prepare for the 2021 commercial launch of its proteomics system, called Proteograph.

The Proteograph system uses engineered nanoparticles to capture proteins in samples like plasma. The captured proteins can then be identified and quantified using technologies including mass spectrometry. The company also this week published a study in Nature Communications detailing the use of the system.

"We are paving the road for researchers to measure hundreds of thousands of distinct protein variants that make up the human proteome at population scale and provide the missing functional context to genomic data sets," said Omid Farokhzad, CEO and founder of Redwood City, California-based Seer. "This will have a fundamental impact on our understanding of biology and disease, including the selection of more precise biomarkers for early disease detection and the elucidation of novel targets for disease treatment."

In addition to Fidelity, participants in the funding round included funds and accounts advised by T. Rowe Price Associates, Invus, aMoon, Maverick Ventures and new investor HBM Healthcare Investments.

Last year, Seer closed a $55 million Series D funding round.