BOSTON, July 11, 2018 /PRNewswire/ -- Mitra RxDx (dba
Mitra Biotech), a privately held biotech company and global leader
in advancing truly personalized oncology treatment, announced today
the completion of a $40 million
financing round. The round was led by Northpond Ventures,
headquartered in Bethesda,
Maryland. Existing investors Accel, Sequoia Capital, Sands
Capital Ventures, and RA Capital Management also participated.
Cumulative funding to date now totals $76
million.
Mitra's CANscript™ platform delivers powerful, individualized
treatment response predictions — with exceptionally high
correlation to clinical outcomes — to inform patient-specific
cancer treatment selection and support more effective and efficient
cancer drug development.
"Northpond is excited to join Mitra, as the CANscript platform
has the potential to meaningfully improve how we treat cancer
patients," said Michael P. Rubin,
M.D., Ph.D., Founder and CEO at Northpond. "We are proud to begin
working with the current investors to help Mitra accomplish their
clinical and commercial goals." Michael will join existing investor
representatives from Accel, Sequoia, Sands, and Tata Capital
Innovation Fund on the Mitra board.
"These funds will allow us to expand our commercial efforts,
while also continuing to build the clinical evidence necessary to
accelerate adoption and secure reimbursement in the U.S. and other
key markets," said Mallikarjun
Sundaram, President, Co-Founder, and CEO of Mitra. "We
enthusiastically welcome Northpond, and greatly appreciate the
continued support from our current investors."
About Mitra:
Founded in 2010, Mitra is headquartered in Greater Boston and maintains a significant
research and laboratory presence in Bengaluru, India.
The company is led by an accomplished and deeply experienced
team of researchers, scientists, and medical commercialization
professionals.
To learn more about Mitra, CANscript, or the recent investment
round, please contact:
Parker Cassidy
Chief Commercial Officer
Mitra RxDx
339.999.2306
pcassidy@mitrabiotech.com
12 Gill Street, Suite 3150
Woburn, MA 01801
www.mitrabiotech.com
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SOURCE Mitra RxDx