Commercial stage personalized medicine company, AltheaDx, Inc., announced today that it has raised $30 million in Series C financing, which was led by WuXi Healthcare Ventures, along with new investors WuXi PharmaTech, Ally Bridge Group and ALMA Life Sciences.
“We are thrilled to be co-investing alongside such exceptional firms,” François Ferré, Ph.D., Co-founder of AltheaDx and co-CEO of ALMA Life Sciences, said in a company statement. “Their very broad knowledge of the Biopharmaceutical space as well as their keen understanding of global markets will provide a formidable brain trust to help AltheaDx become a recognized leader in pharmacogenetics.”
This financing will go toward prospective outcome trials for AltheaDx’s IDgenetix testing portfolio as well as approaching international, long-term growth. The portfolio is designed to help patients make therapeutic decisions as they are challenged with conditions like cardiovascular disease and neuropsychiatric disorders.
“AltheaDx is committed to personalized medicine for therapeutic decision making,” said Greg Hamilton, AltheaDx’s CEO. “Our IDgenetix product line is a comprehensive group of tests that incorporate a patient’s relevant genetic markers, drug/drug interactions, herbals, OTC, environmental and dietary factors to identify the most appropriate medication for the patient. This investment allows the company to position IDgenetix as a leading clinically relevant tool in therapeutic decision making. We’re excited to have the backing of an experienced group of investors who are supporting us in our continued growth.”
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