Boston Children's Hospital spinoff Claritas Genomics has roped in $15 million in capital in a Series B round to help launch a new slate of next-generation sequencing-based tests for the diagnosis of pediatric genetic disorders. The Cambridge, MA-based company also plans to use the cash influx to continue to build its network of clinical pediatric disease experts.
Leading the financing was WuXi NextCODE Genomics, joining A round investors Boston Children's Hospital, Cerner, and Cincinnati Children's Hospital Medical Center, who also participated in the B round.
 |
| Claritas CEO Patrice Milos |
"As we build and deliver integrated solutions to unify the experience of pediatric healthcare for patients with suspected genetic disorders, our dynamic and diverse investor group represents our strengths," Claritas CEO Patrice Milos said in a statement. "Our work together has the potential to transform children's healthcare, as 40% of pediatric disorders are understood to have a clear genetic basis today."
The company's aim is to advance personalized healthcare by removing the barriers to rapid clinical genetic diagnostics, it says on its website.
The funding round comes on the heels of a string of achievements for the clinical genetic diagnostic testing company. In December, Claritas joined up with NextCODE Health to use NextCODE's software platform to speed up the delivery of its genetic test results.
After spinning out of Boston Children's Hospital in February 2013, the company formed a genomic network of pediatric hospitals when it teamed up with Cincinnati Children's Hospital later that year.
Claritas scored a major contract early last year with the Million Veteran Program to sequence 19,000 exomes for research. Then in September 2014, Claritas launched a number of novel diagnostic tests for genetically based neurological and kidney diseases in children that have set new standards of precision for understanding the genetics of these conditions, improving physicians' ability to accurately diagnose and manage them.
- get the release