NEW YORK (GenomeWeb) – Cofactor Genomics announced today that it has raised $18 million through an oversubscribed Series A financing round.
The round was led by Menlo Ventures, with participation from new and existing investors including Data Collective, Ascension Ventures, iSelect, Y Combinator, Wilson Sonsini Goodrich & Rosati, and Stanford. In connection with the round, Menlo Ventures' Mark Siegel, Data Collective's Matt Ocko, and Ascension's John Kuelper have joined Cofactor's board.
Earlier this year, Cofactor launched Pinnacle, an RNA-based oncology assay that analyzes gene fusions and gene expression in patient tumor samples to provide physicians with potential treatment targets. It is the company's first product following a strategic refocusing onto RNA sequencing and software development. Cofactor is currently preparing to commercialize an immuno-oncology assay called Paragon later this year.
"This financing … is enormous validation of the platform that we've built, and reflects excitement for Cofactor's next phase of growth where we intend to package this expertise in discrete applications that can be easily adopted by research labs and clinical practices throughout the nation," Cofactor CEO Jarret Glasscock said in a statement.