Bruker Leads New $46M Funding Round for PrognomQ to Advance Development
next-generation multi-omics liquid biopsy products for cancer
San Mateo, California – March 15, 2022 – PrognomiQ– a healthcare company focused on harnessing the power of multi-omics data to transform the detection, early treatment selection and monitoring of cancer and other complex diseases – announced today that it had raised $46 million in funding led by Bruker Corporation, with participation from new investors, including Catalio Capital Management, and 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 over $101 million since the company’s inception in September 2020.
PrognomiQ’s scientific approach focuses on obtaining valuable insights from high-quality multi-omics data, generating large-scale proteomics, genomics and metabolomics data. The company will use this round of funding to accelerate the development of the company’s multi-omics platform and product pipeline for the early detection, treatment selection and monitoring of multiple cancers.
“We are thrilled with the leadership Bruker has shown in this round, and we are honored to welcome Catalio Capital Management, a leading investor in this space that recognizes the power of our multi-omics approach to developing transformative products for the detection, selection of treatments and monitoring of cancer,” said Philip Ma, CEO of PrognomQ. “We are grateful for the support of our syndicate of investors who recognize the exceptional value of our platform and our pipeline with their potential to impact millions of lives.”
The understanding of biology has advanced enormously thanks to the collection of large-scale genetic, epigenetic and transcriptomic data. Yet, despite these advances in genomics, there is still a huge unmet need for higher sensitivity with high specificity in the early detection of cancer, as researchers and clinicians lack the functional context at the level of proteins and larger molecular phenotype for most of this genomic information, significantly. limiting its usefulness. PrognomiQ generates rich phenotypic proteomic and metabolomic information and complements it with large-scale genomic data. The resulting deep multi-omics data provides unparalleled levels of biological insights into cancer disease mechanisms, as well as host response, and offers new next-generation approaches for detection, selection and monitoring the treatment of some of the most complex diseases.
“The PrognomiQ team has a unique and innovative multi-omics approach for early detection of cancer from liquid biopsies,” said Frank H. Laukien, President and CEO of Bruker. “If higher sensitivity, early cancer detection, and precision cancer medicine are to reach their full potential to save or significantly extend the lives of many more patients, we must harness the rich set of systems biology markers that PrognomiQ can provide with its unique, next-generation capability to perform large-scale unbiased multi-omics studies.We look forward to supporting the company as