Variantyx, a molecular diagnostics leader, announced that it had secured an additional $36 million in funding from its portfolio of investors, which includes Peregrine Ventures, Pitango HealthTech, New Era Capital Partners, and Bosch Ventures.
Variantyx, a technology-driven provider of advanced genomic testing for genetic disorders, reproductive health, and precision oncology markets, saw an increase in test volumes in the first quarter of 2024, expanding its market share.
The additional funding, bringing the total amount invested in Variantyx to over $125 million, will fund additional technological and commercial expansion. This will enable the company to capitalize on the shifting market and seize the opportunity to provide genome-based care to a greater number of patients while maintaining strong unit economics and building significant value.
KEY QUOTES:
“It’s clear that the current shift away from panel and exome-based testing to whole genome testing benefits patients, providers and payers alike. As a pioneer in clinically-accredited, genome-based testing with tens of thousands of genomes sequenced to date, Variantyx is well-positioned to maintain its leadership in genomic diagnostics with on-going innovation of new genome analysis technologies, providing real improvements in patient outcomes to an increasingly larger subset of the population.”
- Christine Stanley, Variantyx’s Chief Director of Clinical Genomics
“The funding demonstrates continued trust and confidence in our ability to deliver on the long-term goals of the company. The additional commercial expansion enabled by this newest investment will help further accelerate our growth to meet the market demand.”
- Haim Neerman, CEO of Variantyx
