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Foresite Capital leads $30m Series C for biotech group Sequenta

3 Jul 2013

cancer band pink_sqHealthcare focused firm Foresite Capital Management has led a $20m Series C round for biotechnology company Sequenta.

Venture capital firms MDV and Index Ventures also participated in the round.

The company will use the funds for commercial scale up and clinical validation of its recently launched ClonoSIGHT test.

ClonoSIGHT uses the LymphoSIGHT, which sequences DNA signatures that are present in immune cells to allow tracking of malignant sub-populations even when they are present at levels as low as one cell per million white blood cells.

Foresite Capital managing director Jim Tananbaum said, “Sequenta has developed a transformative diagnostic technology that uses just a small vial of blood to determine each individual patient’s unique genetic sequence and uses this DNA fingerprint to track leukemia or lymphoma cells.

“It will be used to find the recurrence of cancer much earlier than is feasible with radiation-based imaging and is a major breakthrough in the monitoring and treatment of lymphoid cancers.

“Instead of searching for a needle in a haystack, we can find the needle precisely by using molecular markers. We are delighted to support this extraordinary team who has developed a real product that will make a meaningful difference for cancer patients.”

Last year Foresite led a $28m equity financing round in US drug company Tarsa Therapeutics.

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