Bay Area startup Advanced Cell Diagnostics just closed out a $22 million Series C financing – with plans to use its RNA-based testing platform to enter the precision medicine market.
The funding will help the startup advance in both clinical and research diagnostics markets, it said in a release.
Advanced Cell Diagnostics uses in situ RNA detection, with a platform it calls “RNAscope” technology. It profiles single gene expression in situ, studying the targeted molecular structure of each cell in a sample – and can detect every gene in the human transcriptome, the startup says.
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Among others, it’s interested in using its RNA clinical diagnostics in the cancer, neuroscience, infectious disease and stem cell signaling spaces. For research, it’s exploring non-coding RNA, single-cell analysis and gene fusions.
The round was led by growth equity investor Summit Partners, with participation from Kenson Ventures, Morningside Ventures and New Leaf Venture Partners.
This builds on a $12 million Series B round in November 2012. Some technology comes from Johns Hopkins University.
