MO-PIERIANDX
2.11.2021 14:17:13 CET | Business Wire | Press release
PierianDx, the global leader in clinical genomics knowledge, announced that it closed on $30 million of new growth capital including equity financing and a term loan facility, which includes access to additional tranches for up to $17.5 million by 2022 and 2023, subject to certain conditions. The financing was led by healthcare investment firm OrbiMed with existing investors Health Catalyst Capital, Research Triangle Institute, Inova Health Systems, ATW Partners, and SJF Ventures also participating. The new capital will drive commercial expansion in response to increased demand as more healthcare organizations seek to provide high quality, affordable, faster care locally to their patients by internalizing next generation sequencing (NGS) testing capabilities.
PierianDx partners directly with providers, laboratories, and medical centers of all sizes to build advanced NGS testing capabilities on site using its assay-agnostic, advanced interpretation technology and enabling services. Founded in 2014 as a technology transfer spinout from Washington University in St. Louis, PierianDx has established partnerships with industry leaders and medical facilities around the world as they build or expand upon their advanced precision medicine programs using NGS technology.
“To manifest the full impact of genomics, we must routinely apply it in clinical settings,” states Rakesh Nagarajan, Founder, President, and Chief Technical and Visionary Officer of PierianDx. “Our interpretation technology and services lead the way by empowering medical facilities to understand a patient’s genetic variation, identify the best treatment options, and deliver the most precise care.”
"We are thrilled to work with OrbiMed and our existing investors as they share our vision for decentralized NGS testing that enables our laboratory and physician customers to better serve patients,” states Mark McDonough, CEO of PierianDx. "This capital will allow us to continue building a world-class team and deliver transformative solutions to leading healthcare organizations everywhere so that they can bring genomics into their communities.”
About PierianDx
PierianDx is a partner in precision medicine, enabling clinicians and medical facilities to advance clinical genomics programs and modernize patient care. We believe in the potential of genomics to transform human health, and are working to ensure that communities anywhere can experience the benefits. With advanced interpretation technology connected to the most comprehensive genomic knowledgebase, PierianDx empowers providers with genomic insights to fulfill the promise of precision care.
About OrbiMed
OrbiMed is a leading healthcare investment firm, with over $18 billion in assets under management. OrbiMed invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed’s team of over 100 professionals is based in New York City, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya and other key global markets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005411/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Galderma Reports Record First Half 2026 Net Sales of 3.134 Billion USD and 24.6% Year-on-Year Growth at Constant Currency, Raises Net Sales Guidance for the Full Year23.7.2026 07:00:00 CEST | Press release
Ad hoc announcement pursuant to Art. 53 LR Galderma Group AG (SIX: GALD), the pure-play dermatology category leader, today announced its financial results for the first half of 2026. Net sales reached 3.134 billion USD, surpassing 3 billion USD for the first time in the first six months of the year and representing net sales growth of 24.6% at constant currency1. Broad-based, double-digit growth in both International markets and the U.S. as well as in all product categories, primarily driven by volume and complemented by favorable mix. Outperforming the market in each product category, with net sales growth year-on-year at constant currency of 12.1% in Injectable Aesthetics, 16.4% in Dermatological Skincare, and 67.9% in Therapeutic Dermatology. Demonstrating leadership in dermatology through ongoing geographic expansion and differentiated innovation, including Nemluvio® (nemolizumab), which generated 433 million USD in net sales, Relfydess™ (RelabotulinumtoxinA), which continues to ra
ATOZ Services Announces Strategic Growth Investment from Bregal Sagemount23.7.2026 06:30:00 CEST | Press release
Investment will support geographic expansion, AI investment and continued growth across ATOZ Services’ fund services platform ATOZ Services (The “Company”), an independent Luxembourg-based fund services platform, today announced that the Company will accelerate its strategic move to continue its international expansion and acquisition-based strategy through a growth investment from Bregal Sagemount (“Sagemount”), a leading growth-focused private equity firm. Sagemount has entered into a partnership with ATOZ Group and ICG that will see Sagemount become the majority shareholder of the Company, while ATOZ Group and ICG retain a minority stake, subject to regulatory approval and other customary procedures. The investment will support the Company’s continued development as an international fund services platform. Founded in 2018 as part of the ATOZ Group, ATOZ Services provides fund-linked special purpose vehicle (“SPV”) services, fund administration, and fund governance, risk and complian
Airship Announces Results Guarantee; Releases Commissioned Study Finding 476% ROI for Composite Organization22.7.2026 17:00:00 CEST | Press release
Airship stands behind results with new guarantee offer*; also launches a commissioned study quantifying how a composite organization moved past vanity metrics to drive $7.3M in value Airship, the mobile-first customer experience platform leader, today announced its Airship Results Guarantee, a corporate commitment to achieve predetermined business outcomes for new customers. Concurrently, the company released the results of a separate, commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Airship, July 2026. The study found that a composite organization based on interviewed customers achieved a 476% Return on Investment (ROI) with a payback period of less than six months. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722832535/en/ Airship has launched a new results guarantee offer to stand behind its value. Alongside this offer, the team shared the results of a new Total Economic
Arrakis Comes out of Stealth With $38M to Help Industrial Enterprises Compete in the AI Era22.7.2026 15:56:00 CEST | Press release
Funding led by Blossom Capital with participation from Accel, GFC, MainObject, and Rerail, bringing total raised to around $38 million in just six months. Arrakis helps industrial companies deploy AI agents into mission-critical operations, tackling the "last mile" challenge that prevents most AI projects reaching production. The funding will enable office openings in New York and the Middle East, platform development and AI deployment in the world's most operationally complex industries. Arrakis, the AI deployment company helping industrial companies install AI agents for mission-critical operations, today announced a $30 million Series A led by Blossom Capital, with participation from existing investor Accel, which also led the company's $7.5 million seed round. The round brings total funding to around $38 million and includes backing from prominent technology leaders, including Olivier Pomel, founder and chief executive of Datadog, Olivier Godement, OpenAI’s Head of business product
Vultr and AMD Support the University of Cambridge's TESSERA AI Project to Accelerate Global Environmental Monitoring22.7.2026 15:00:00 CEST | Press release
Cambridge University's Energy & Environment Group Deploys Planetary-Scale Foundation Model on Vultr Cloud GPU Infrastructure Powered by AMD Instinct™ MI325X GPUs Vultr, the world’s largest privately-held cloud infrastructure company, and AMD, a leader in high-performance and AI computing, have announced their support for the University of Cambridge's Energy & Environment Group in developing TESSERA, a groundbreaking AI foundation model designed to monitor environmental change internationally at unprecedented scale. Vultr is providing the computational infrastructure, based on AMD Instinct MI325X accelerators, necessary to generate global embeddings covering Earth's land surface from 2017 to 2025, enabling applications in agriculture, biodiversity conservation, and renewable energy infrastructure monitoring. The collaboration represents a significant advancement in applying artificial intelligence to planetary conservation challenges. TESSERA processes data from European Space Agency Se
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom