Strata Oncology, a precision oncology platform company, today announced the close of a $26 million USD Series B funding round. New investors Pfizer Ventures, Merck Global Health Innovation Fund, Deerfield Management and Renaissance Venture Capital Fund were joined by existing investors Arboretum Ventures and Baird Capital.
Strata Oncology will use the new funding to:
Expand the Strata Precision Oncology Network, a group of leading health systems adopting Strata’s platform to systematize tumor molecular profiling and precision therapy trials.
Further develop the company’s clinical-genomic data and software solutions to streamline health system precision oncology workflows and catalyze new clinical research opportunities.
Submit the company’s tumor molecular profiling assay, StrataNGS, for approval by the US Food and Drug Administration. StrataNGS includes actionable DNA and RNA biomarkers and will be expanded to include tumor mutational load.
Launch the Pan-cancer molecular Analysis for cancer THerapy (PATH) study, a Strata-sponsored master therapeutic protocol, to support rapid and cost-effective indication expansion studies for on-market pharma drugs.