Agendia raises $65 million in a private financing round
Amsterdam, The Netherlands and Irvine, CA – Agendia, an innovative molecular cancer diagnostics company and leader in personalized medicine, today announced that the company has raised USD $65 million in a private round of equity financing.
The financing round was led by the Debiopharm Group™ (Debiopharm), a leading drug development company based in Switzerland. The syndicate was joined by several new international investors including Korys, the investment structure of the Colruyt family and others. Existing investors Gilde Healthcare Partners, Van Herk Group, ING Corporate Investments and Breedinvest participated as well.
“The support we have received in this round of financing is a strong reflection of our recent growth, and confidence in the commercialization of our product pipeline in the future”
said David Macdonald, CEO of Agendia.
“We will use these funds to expand commercialization of our current breast cancer suite of tests, as well as for development of our personalized medicine pipeline. We have recently launched our Symphony suite in a Formaldehyde Fixed-Paraffin Embedded (FFPE) format and we are preparing to launch our ColoPrint recurrence test for stage II colon cancer prognosis and prediction.”
Agendia is a leading global commercial molecular diagnostic company that develops and markets genomic-based diagnostic products that improve the quality of life for cancer patients and simplifies complex treatment decisions for their physicians. Agendia’s Symphony™ suite of breast cancer products is based on the analysis of hundreds of genes in a patient’s breast and provides unprecedented biological insight to address complex treatment decisions. Symphony includes MammaPrint, the first and only FDA-cleared IVDMIA breast cancer recurrence assay, as well as BluePrint , a molecular subtyping assay, TargetPrint®, an ER/PR/HER2 expression assay, and TheraPrint®, a therapy selection assay. Together, these tests help physicians determine a patient’s individual risk for metastasis, which patients will benefit from chemo or hormonal therapy, and which patients do not require these treatments and can instead be treated with other less arduous and costly methods.
In addition to the Symphony suite of tests, Agendia has a rich pipeline of genomic products in development based on its world-class genomic platform. The company also collaborates with pharmaceutical companies to develop companion diagnostic tests in the area of oncology and is a critical partner in the ISPY-2 and MINDACT trials.
Agendia was founded in 2003 as a spin-off of the Netherlands Cancer Institute and is based in Irvine, California, United States, and Amsterdam, the Netherlands. For more information, please visit www.agendia.com.