PierianDx Closes Series A Financing Led by Health Catalyst Capital Management Leading Bioinformatics Platform Poised for Next Stage of Growth
ST. LOUIS, MO (January 7, 2015) – PierianDx, the leading provider of genomic software and services to enable data-driven personalized medicine, announced that it closed $9.25 million in Series A financing led by New York-based Health Catalyst Capital Management (HCCM). Joining HCCM in the investment round is a venture investing affiliate of Ocean Road Advisors, Inova Translational Medicine Institute (ITMI), and ARUP Laboratories.
This financing will enable PierianDx to expand its lead as a pioneer in Next Generation Sequencing (NGS) software and services. PierianDx will use the funding to accelerate product development and expand sales, marketing and operations efforts.
PierianDx’s genomics software platform, Clinical Genomicist Workstation (CGW), provides the leading data-driven workflow for health systems, academic medical centers, and commercial labs to improve patient outcomes through more precise genomic analysis, interpretation and reporting. CGW offers clinical labs the ability to deliver on the promise of personalized medicine by providing comprehensive clinical insights for somatic cancer as well as constitutional disorders. CGW does this by providing a highly streamlined workflow and an extensive, curated, constantly updated knowledge base.
“We are excited to have HCCM lead our investment syndicate,” said PierianDx CEO Ted Briscoe. “The team brings a wealth of industry experience, contacts and access to the capital critical to extend PierianDx’s leadership position in the rapidly advancing field personalized medicine.”
HCCM is a newly formed investment platform led by Charles Boorady, who brings more than 25 years of relevant experience in healthcare, investment banking and private equity.
“HCCM was created to be a different kind of healthcare investment firm”, said Boorady. “Our mission is to invest in healthcare companies that improve the quality of care and lower costs. We partner with best-in-class platforms that have sustainable business models and experienced management teams. PierianDx fits that description and will be a cornerstone of our emerging portfolio as it becomes the gold standard for genetic data interpretation and reporting.”
PierianDx enables health systems, academic medical centers and commercial labs to deliver patient-specific diagnosis and treatments based on an individual’s DNA. In use since 2011, and regularly enhanced with new patient, clinical and research data, PierianDx’s proprietary Clinical Genomicist Workstation provides clinical labs more streamlined and accurate analysis, interpretation, and reporting needed to accelerate their personalized medicine programs. For more information, please visit www.pieriandx.com or @PierianDx on Twitter.
About Health Catalyst Capital Management
Health Catalyst Capital Management is a New York-based venture capital firm that seeks to invest in entrepreneurial teams building high growth healthcare information technology businesses that make a positive social impact by improving patient outcomes and value. For more information, visit www.HealthCatalystCapital.com.