Personalized medicine startup AltheaDx has raised a $30 million Series C round to back outcomes studies for and marketing of its IDgenetix pharmacogenetics testing portfolio that's designed to determine the best treatment approach across several cardiovascular and neurological diseases as well as thrombophilia based on genetic information for each individual patient.
IDgenetix tests offer physicians treatment guidance based upon the most current observations regarding the role of genetics in the metabolism of specific drugs. This cash infusion comes after an IPO proposal withdrawal for AltheaDx in March; it had filed publicly to list in December 2014.
The San Diego, CA-based startup markets a series of panels to determine the best treatment for cardiovascular diseases including hypertension, hyperlipidemia, arrhythmia and anticoagulation, as well as for neurological disorders such as depression, anxiety, psychosis, ADHD, musculoskeletal pain, neuropathic pain, arthritis and migraine and for thrombophilia to address hyperhomocysteinemia and venous thrombosis.
|Greg Hamilton, AltheaDx CEO|
"Our IDgenetix product line is a comprehensive group of tests that incorporate a patient's relevant genetic markers, drug/drug interactions, herbals, OTC, environmental and dietary factors to identify the most appropriate medication for the patient," said AltheaDx CEO Greg Hamilton in a statement. "This investment allows the company to position IDgenetix as a leading clinically relevant tool in therapeutic decision making."
According to the most recent SEC filing dating from January, AltheaDx had an ongoing 12-month, 300-patient pilot study with an undisclosed, 'large managed care organization,' as well as another pilot study with hospital management company Universal Health Services to identify the impact of the use of IDgenetix on endpoints such as the number of prescription drugs, hospitalizations and length of stay, and other health assessments.
This financing is led by venture arm WuXi Healthcare Ventures (WXHV). New investors WuXi PharmaTech, Ally Bridge Group and ALMA Life Sciences also joined with this round.
"The era of pharmacogenetic testing is now and AltheaDx has all the crucial components to be a major player in the field," added Wei Li, Managing Partner of WXHV.
Added François Ferré of ALMA, an early stage investor that backs San Diego, CA, life sciences companies, "Their very broad knowledge of the biopharmaceutical space as well as their keen understanding of global markets will provide a formidable brain trust to help AltheaDx become a recognized leader in pharmacogenetics."
- here is the announcement