FRAMINGHAM, Mass.– Variantyx, a technology-driven precision medicine company providing advanced genomic testing for the rare genetic disorders, reproductive health, and precision oncology markets, announced today a $20M debt financing transaction with Kreos Capital. These additional funds follow the Company’s recent $41.5M Series C-2 equity financing announced in February 2022.
Variantyx is poised to take advantage of the rapidly growing global precision medicine market with access to North America and Europe, the largest and fastest growing regions respectively for precision medicine spending.
The Variantyx proprietary whole genome platform allows healthcare providers and their patients to better understand a person’s genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations. The company’s precision oncology solution will use multiple genomic technologies to analyze and identify the unique genetic alterations in a patient’s tumor to help predict their response to various therapies, optimize management, as well as provide prognostic and clinical trials information.
”We are very pleased to partner with Kreos Capital as we seek to revolutionize the precision medicine markets” said Haim Neerman, CEO of Variantyx. “This additional financing provides us resources to fuel our growth and is far less dilutive to our shareholders”
Aris Constantinides, General Partner of Kreos Capital commented, “Variantyx has built a unique and advanced platform for precision medicine and its ability to process the whole genome sets it apart in the genomic diagnostics market. Our funds, which enhance the company’s already strong capital position, will allow it to significantly scale up its commercial efforts.”
