PierianDx Closes up to $47.5 Million of Growth Capital
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005411/en/
Contact information
Lisa Owen
lowen@pieriandx.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
CMA Approves Amendments to Investment Accounts Instructions to Strengthen Foreign Investor Access and Enhance Market Efficiency27.10.2025 19:29:00 EET | Press release
The Capital Market Authority (CMA) of Saudi Arabia has approved a set of amendments to the regulatory framework governing the procedures for opening and operating investment accounts. These changes aim to facilitate access for a broader base of foreign investors and align with the Kingdom's regulatory and technological developments. The amendments are part of CMA’s ongoing efforts to enhance the investment environment and expand the investor base in the Saudi capital market. The requirements for opening an investment account for individual foreign investors residing in one of the GCC countries have been developed. In addition, the scope of securities that they can directly invest in now includes the shares of listed companies on the Saudi Main Market (TASI). Before these facilitations, their access was limited to the debt instruments market, the Parallel Market (Nomu), investment funds, and the derivatives market. Furthermore, trading in the main market was previously restricted to bei
Carbon Measures and International Chamber of Commerce Launch Technical Expert Panel on Carbon Accounting27.10.2025 18:11:00 EET | Press release
Carbon Measures and the International Chamber of Commerce (ICC) today announced the formation of an independent expert panel that will work to develop the guidelines and implementation steps to establish a global carbon emissions accounting system based on financial accounting principles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251027348594/en/ The Technical Expert Panel on Carbon Accounting will be comprised of experts from academia, financial accounting, industry and civil society, representing multiple perspectives and geographies. Together, they will define the principles, scope, and applications of a carbon emissions accounting system modeled on financial accounting principles. Such a system would provide accurate, transparent, verifiable, and timely company- and product-level data, ensuring every tonne of carbon emissions is counted only once and attributed correctly at each step of the value chain. The panel wi
IAMPHENOM Europe Expands All-Star Speaker Lineup27.10.2025 15:30:00 EET | Press release
Phenom, an applied AI company that helps organisations hire faster, develop better and retain longer, announced a second wave of confirmed speakers joining its inaugural IAMPHENOM Europe conference — the only applied AI event for human resources. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251027606156/en/ Phenom announced a second wave of confirmed speakers joining its inaugural IAMPHENOM Europe conference — the only applied AI event for human resources. Featuring visionary keynotes, customer-led breakout sessions, live demonstrations of use-case specific AI agents, and networking opportunities across HR and IT, the in-person event will take place 6 November in Munich. Session topics will include how to: assess AI and automation maturity levels; deploy 25+ AI agents; uphold compliance while navigating European regulations; develop and retain internal talent while attracting external skills; drive unprecedented recruiter
ThetaRay and Kaufman Rossin Announce AI AML Model Validation at Money20/20 USA27.10.2025 15:00:00 EET | Press release
ThetaRay, a global leader in Cognitive AI financial crime compliance, today announced that Kaufman Rossinhas completed an independent validation of its AML Transaction Monitoring and OFAC Screening Modules. Finalized in August 2025, the review confirms that ThetaRay’s AI models demonstrate the governance, transparency, and robustness regulators increasingly expect from AI-driven compliance systems. The announcement will be featured at Money20/20 USA, where the future of finance and compliance technology takes center stage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251027724792/en/ A timely milestone in a shifting regulatory landscape In the United States, regulators are sharpening their focus on model risk management. FinCEN’s proposed modernization of the Bank Secrecy Act emphasizes dynamic, risk-based compliance programs and heightened oversight of third-party models. In the European Union, the newly enacted AI Act se
Klarna Launches Memberships: Premium Perks Without Expensive Credit27.10.2025 15:00:00 EET | Press release
Klarna, the global digital bank and payments provider, today unveiled its new global membership program, introducing Premium and Max. The program delivers premium benefits like cashback, travel perks, and lifestyle rewards in a transparent, monthly plan, without the need to take on expensive credit. The launch marks a major step in Klarna’s evolution into a full-scale digital bank helping consumers manage their money with greater value and control. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251027643962/en/ “We believe consumers shouldn’t have to take on expensive credit to access premium benefits,” said David Sandström, Chief Marketing Officer at Klarna. “For decades, exclusive perks such as airport lounge access, concierge-style subscriptions, and premium travel insurance were only available to elite credit card holders. Klarna is changing that. Through Klarna memberships, consumers can enjoy travel, lifestyle, and dig
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