PrognomiQ Announces $46 Million Financing to Advance Development of its Multi-omics Product Pipeline for Early Detection and Treatment of Cancer

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Mar 15, 2022, 08:45 ET

SAN MATEO, Calif., March 15, 2022 /PRNewswire/ -- PrognomiQ – a healthcare company focused on harnessing the power of multi-omics data to transform the detection and early treatment selection and monitoring of cancer and other complex diseases – today announced it has raised $46 million in financing led by Bruker Corporation, with participation from new investors, including Catalio Capital Management, and from existing investors including aMoon, Fidelity Management and Research Company LLC, funds and accounts advised by T. Rowe Price Associates, Inc., Invus, Maverick Ventures, Emerson Collective and Wing VC. The closing of this round brings PrognomiQ's total funding to more than $101 million since the company was founded in September 2020.

PrognomiQ's scientific approach is focused on gaining valuable insights provided by high-quality multi-omics data, generating proteomic, genomic and metabolomic data at scale. The company will use this round of funding to accelerate development of the company's platform and pipeline of multi-omics products for the early detection, treatment selection and monitoring of multiple cancers.

"We are thrilled by the leadership that Bruker has demonstrated in this round, and we're honored to welcome Catalio Capital Management, a thought-leading investor in this space that recognizes the power of our multi-omics approach to develop transformative products for the detection and treatment selection and monitoring of cancer," said Philip Ma, CEO of PrognomiQ. "We're grateful for the support from our syndicate of investors who acknowledge the exceptional value of our platform and pipeline with their potential to impact millions of lives."

The understanding of biology has advanced tremendously through large-scale genetic, epigenetic and transcriptomic data collection. Yet, despite these genomics advancements, there is still a tremendous unmet need for higher sensitivity with high specificity in early cancer detection, since researchers and clinicians lack the functional context at the protein and broader molecular phenotype level for the bulk of this genomic information, significantly limiting its utility. PrognomiQ generates rich phenotypic proteomic and metabolomics information and complements this with large-scale genomics data. The resulting deep multi-omics data provides unparalleled levels of biological insights into cancer disease mechanisms, as well as into host response, and offers novel next-generation approaches to the detection and treatment selection and monitoring of some of the most complex diseases.

"The PrognomiQ team has a unique and novel multi-omics approach for early detection of cancer from liquid biopsies," said Frank H. Laukien, President and CEO of Bruker. "If higher sensitivity, earlier cancer detection and cancer precision medicine are to reach their full potential to save or substantially prolong many more patient lives, we need to tap into the rich set of systems biology markers that PrognomiQ can deliver with its unique, next-generation ability to do large-scale, unbiased multi-omics studies. We look forward to supporting the company as they develop next-generation products that positively impact human health in the most challenging and impactful clinical indications."

Seer spun out PrognomiQ in September 2020 with the vision of fully leveraging the power of Seer's proteomic platform for unbiased proteomic analysis at great depth, breadth and scale. PrognomiQ has expanded its next-generation unbiased multi-omics platform to include DNA, epigenetic and mRNA next-generation sequencing, as well as the large-scale, deep detection of post-translational modifications of proteins, and deep lipidomics and metabolomics at scale.

About PrognomiQ
Founded in 2020, PrognomiQ is a healthcare company pursuing the development and commercialization of multi-omics human tests for cancer and other complex diseases. PrognomIQ uses leading edge proteomics technologies, in addition to metabolomics and genomics technologies, to develop multi-omics products to improve human health. For more information, please visit www.prognomiq.com.

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SOURCE PrognomiQ