PierianDx, a genomics software firm based on Washington University research, has raised $30 million as it expands to meet demand from the medical industry.
The new funding includes a loan and equity capital and was led by OrbiMed, a health-care investment firm based in New York. The funding agreement calls for PierianDx to receive up to $17.5 million more in 2022 and 2023, subject to certain conditions.
The St. Louis firm offers software for precision medicine, in which genetic analysis is used to provide targeted therapies. PierianDx’s founder and president, Rakesh Nagarajan, spun the company out of Washington University in 2014. Mark McDonough joined as chief executive last year.
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