RESEARCH TRIANGLE PARK, N.C. — RTI International, a leading research institute, today announced a follow-on investment in PierianDx to help empower leading health institutions and diagnostic laboratories to build world-class precision medicine programs. The transaction includes RTI’s participation in a $27 million Series B funding round, which includes new investors ATW Partners and SJF Ventures along with existing investors of Health Catalyst Capital, Inova Health Systems and ARUP Laboratories.
“Advancements in the ability to harness knowledge from genomics has the potential to improve patient lives and advance the field of medicine," said E. Wayne Holden, PhD, president and CEO of RTI. "PierianDx’s focus on processing and interpreting large amounts of data to deliver evidence-based genomic insights for more precise patient care is well aligned with RTI's mission to improve the human condition by turning knowledge into practice.”
PierianDx provides a SaaS platform that enables the practice of clinical genomics as a standard of care and empowers the world’s most advanced molecular diagnostic labs. Founded in 2014 out of Washington University in St. Louis, PierianDx is focused on advancing cancer diagnostics and making targeted therapeutics more accessible to healthcare systems, laboratories and patients worldwide.
“We are impressed by the progress PierianDx is making in accelerating genomic testing across global markets,” said Matt Jenkins, vice president and head of corporate development at RTI. “PierianDx has been a dynamic part of our investment portfolio of science-driven technologies that help advance clinical care. We are pleased to continue our support alongside a syndicate comprised of healthcare focused investors, a strategic health system and commercial lab partners.”
“RTI's depth of scientific expertise coupled with an understanding of high growth healthcare companies has been wonderful to have as a co-investor," said Michael L. Sanderson, CEO of PierianDx. "RTI has directly supported our significant growth over the past 18 months, and we look forward to our continued partnership during this next phase for PierianDx.”