ANN ARBOR, Mich., May 23, 2018 /PRNewswire/ -- Strata Oncology, a precision oncology platform company, today announced theclose 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
Strata Oncology will use the new funding to:
"We are grateful to our early partners who have helped us demonstrate a new way forward in precision oncology," said Dan Rhodes, PhD, CEO of Strata Oncology. "And now with this funding, we're eager to take our offerings to the next level so that we can further enable our health system partners and deliver a truly differentiated solution for pharma drug development."
"We believe that data is the future currency of healthcare," added Prem Tumkosit, Investment Principal at Merck Global Health Innovation Fund. "Strata's platform will generate and leverage clinical-genomic data to drive precision trial enrollment and advance cancer care."
"We've been very impressed with Strata Oncology's effort in building a comprehensive solution that meets the needs of both health systems and biopharma research," said Bill
Burkoth, Executive Director at Pfizer Ventures. "We look forward to working with the company to achieve its goal of transforming precision oncology."
About Strata Oncology
Strata Oncology is a precision medicine company dedicated to transforming cancer care by systematizing precision oncology across a network of health systems and pharma companies. We empower health systems to deliver a cost-effective, system-wide precision oncology program, one that integrates cutting-edge molecular profiling and precision therapy trials with routine care, so that all advanced cancer patients have the opportunity to benefit. This large network of trial-ready health systems provides a mechanism to rapidly and predictably enroll precision therapy trials. For more information visit www.strataoncology.com.
Contact: Media@strataoncology.com, 734-527-1000
View original content:http://www.prnewswire.com/news-releases/strata-oncology-secures-26-million-in-series-b-funding-led-by-pfizer-and-merck-300653478.html
SOURCE Strata Oncology
Subscribe to our Free Newsletters!