Adaptive Biotechnologies Enhances Leading Position in Growing Immunosequencing Market with Completion of $195 Million Investment

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May 06, 2015, 08:45 ET

SEATTLE, May 6, 2015 /PRNewswire/ -- Adaptive Biotechnologies, a leader and pioneer in next generation sequencing (NGS) of T-cell and B-cell receptors in the immune system, announced today the completion of Adaptive's Series F financing round with a $195 million investment to support several strategic growth initiatives. This round was led by Matrix Capital Management and included other new investors Senator Investment Group, Tiger Management, Rock Springs Capital and an additional large healthcare investor, alongside participation from existing investors Viking Global, Casdin Capital and Alexandria Real Estate Equities. Adaptive is also backed by industry-leading strategic investors Illumina, Celgene, BD Biosciences and LabCorp.

Representing Adaptive's largest financing to date, this investment will fuel significant expansion of the Company's research platform, support the commercialization of a novel target identification technology for T-cell therapy, and expedite global regulatory submissions and launch timelines for its research-use-only and clinical diagnostic products. Additionally, funds will be allocated to support the continued growth of the world's largest database of adaptive immune receptors to inform future diagnostic and therapeutic discoveries across disease states.

"The disruptive potential of our ground-breaking immunosequencing technology is evidenced by the tremendous commitment of our world-class investors," said Chad Robins, President, CEO and Co-founder of Adaptive. "We are honored to work with a consortium of investors who share in our vision that understanding the adaptive immune system will change the course of medicine across many therapeutic areas including cancer and other immune-mediated diseases."

This financing round follows the acquisition of Sequenta Inc. earlier in 2015, which solidified Adaptive's CLIA-certified clonoSEQ^TM Process as the leading diagnostic for measuring minimal residual disease (MRD) in multiple blood cancers. The financing will accelerate efforts to obtain global regulatory approvals of the clonoSEQ Process as the standard for a sensitive and accurate molecular diagnostic for MRD.

Adaptive will also be expanding its immunosequencing platform to develop a revolutionary target identification technology for adoptive T-cell therapy. "Adaptive has ingeniously combined the vast power of next generation sequencing, distributed computing, and data analytics with proprietary chemistries to create the industry leading immunosequencing platform that enables a portfolio of innovative applications addressing the research, clinical and therapeutic development markets," said David Goel, Managing General Partner of Matrix Capital Management.

About Adaptive Biotechnologies

Adaptive Biotechnologies is the pioneer and leader in combining high-throughput sequencing and expert bioinformatics to profile T-cell and B-cell receptors. Adaptive is bringing the accuracy and sensitivity of its immunosequencing platform into laboratories around the world to drive groundbreaking research in cancer and other immune-mediated diseases. Adaptive also translates immunosequencing discoveries into clinical diagnostics to improve patient care.

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SOURCE Adaptive Biotechnologies