Variantyx Secures $36M Investment As Testing Demand And Market Share Continues To Increase
26 Abril 2024 - 10:12AM
Business Wire
Variantyx, a leader in molecular diagnostics, announced today
that it has secured an additional $36 million in funding from its
portfolio of investors which includes Peregrine Ventures, Pitango
HealthTech, New Era Capital Partners and Bosch Ventures. The
company, a technology-driven provider of advanced genomic testing
for genetic disorders, reproductive health and precision oncology
markets has seen a rapid increase in test volumes in the first
quarter of 2024, further expanding its market share. The additional
investment, which brings the total amount invested in Variantyx to
over $125 million, will fund additional technological and
commercial expansion, enabling the company to capitalize on the
shifting market, seizing the opportunity to provide cutting-edge,
genome-based care to a larger number of patients while maintaining
strong unit economics and building significant value.
“It’s clear that the current shift away from panel and
exome-based testing to whole genome testing benefits patients,
providers and payers alike,” said Christine Stanley, Variantyx’s
Chief Director of Clinical Genomics. “As a pioneer in
clinically-accredited, genome-based testing with tens of thousands
of genomes sequenced to date, Variantyx is well-positioned to
maintain its leadership in genomic diagnostics with on-going
innovation of new genome analysis technologies, providing real
improvements in patient outcomes to an increasingly larger subset
of the population.”
“The funding demonstrates continued trust and confidence in our
ability to deliver on the long-term goals of the company,” said
Haim Neerman, CEO of Variantyx. “The additional commercial
expansion enabled by this newest investment will help further
accelerate our growth to meet the market demand.”
About Variantyx
Variantyx is an award-winning, technology-driven molecular
diagnostics company providing disruptive solutions for the genetic
disorders, reproductive health, and precision oncology markets. The
proprietary whole genome analysis platforms developed by Variantyx
allow clinicians to better understand a person’s genetic makeup,
leading to unmatched diagnostic capabilities and improved
personalized treatment recommendations. For more information,
please visit www.variantyx.com.
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Haim Neerman Haim.neerman@variantyx.com (617) 209-2090