Proceeds to expand and commercialize growing pipeline of RNA-based molecular diagnostics
Durham, N.C., Nov. 8, 2021 – GeneCentric Therapeutics, a company making precision medicine more precise through RNA-based diagnostics, today announced the closing of an oversubscribed Series B1 financing, which raised $7.5 million.
Proceeds will be used to commercialize GeneCentric’s gene signatures and accelerate the growth of its pipeline of predictive response signatures for oncology therapeutics. New investors include IAG Capital Partners and Alexandria Venture Investments, along with existing investors Labcorp and Hatteras Venture Partners.
“This financial support from our investors demonstrates the continued enthusiasm for RNA-based diagnostics and genomic tools as a means to accelerate the development of new cancer therapeutics,” said Mike Milburn, PhD, president and CEO of GeneCentric Therapeutics. “This is an exciting time for GeneCentric as we deploy our growing pipeline of RNA-based genomic analysis solutions across multiple tumor types and therapeutic options.”
In addition to developing its signature and diagnostic pipeline, GeneCentric will continue to pursue key pharmaceutical and biotechnology collaborations where its core technologies can be used to advance new and ongoing partner programs.
About the rT(I)ME Explorer Platform
GeneCentric’s broad pipeline of novel predictive response signatures has been built over the past decade using its proprietary RNA-based Tumor and Immune Micro-Environment (rT(I)ME) Explorer bioinformatics platform. These RNA-based response signatures allow for improved patient selection for new and existing targeted and immune oncology therapeutics, as well as expansion into new tumor types. The rT(I)ME Explorer platform also allows for deeper insight into rational combination strategies, as there is increased interest in combining small molecule-targeted therapies with immuno-oncology agents or use of multiple immuno-oncology agents. By applying its rT(I)ME Explorer technology, GeneCentric is expanding drug response biomarkers and identifying new targets to enable more effective and efficient drug development.
About GeneCentric
GeneCentric Therapeutics, Inc. is an RNA-based genomic solutions provider based in Durham, North Carolina. The company designed its technologies to parse the complexity of tumor and immune biology using its RNA-based Tumor and Immune Micro-Environment (rT(I)ME) Explorer platform to discover and develop signatures of responder populations to oncology therapeutics. GeneCentric commercializes its technology through strategic collaborations with pharmaceutical, biotechnology and diagnostics companies in applications throughout preclinical testing, clinical drug development and commercialization lifecycle phases. For more information, visit www.genecentric.com or follow us on LinkedIn.
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CONTACT:
Robin Fastenau