Molecular diagnostics company, ArcherDX, has its technology platform for genetic mutation detection in cancer patients laid out. Now, the company is positioned to take its research and systems even further, after receiving $55 million in financing from several investors.
This backing will be used to expand the company’s global reach, in addition to enhancing its monitoring platforms and other diagnostics. The Boulder, CO-based company is working to bring early detection and targeted treatments to patients with blood and solid tumor cancer, sarcoma, and other inherited diseases. In that vein, it is launching Stratafide, a system that can help identify alterations in tissue or blood samples, including those targeted by therapies currently undergoing clinical trials or those treatments already recommended under clinical guidelines.
The platform allows tissue and blood samples to be analyzed at locals labs using a sequencer, which allows for faster turnaround times giving physicians the critical information they need for more targeted, personalized care sooner.
The company will also advance its Personalized Cancer Monitoring platform, which can improve detection of minimal residual disease (MRD), in addition to addressing critical needs in early stage tumor growth, including recurrence, evolution, and therapy monitoring.
“We believe millions of cancer patients could benefit from a more accurate, personalized means of detecting relapse, when the cancer burden is low and more treatable,” said Jason Myers, co-founder and CEO of ArcherDX in a statement. “We remain driven to enable personalized molecular diagnostics that are accurate, actionable and local.”
A key element to its Stratafide platform, the company recently partnered with Illumina, Inc. to develop in-vitro diagnostic (IVD) tests for Archer’s planned portfolio of next-generation sequencing-based companion diagnostics. Under the agreement, Illumina will take ArherDX’s portfolio of IVD tests used to develop targeted treatment and to monitor MRD for patients with blood and solid tumor cancers. These IVD tests will allow larger hospitals, laboratories, and health systems to get fat results by running tests at smaller, local labs worldwide.
Mike Altman, Managing Director of Investor Perceptive Advisors, a lead investor, said that the company’s decentralized testing will broadly impact the molecular cancer testing market. “We are delighted to continue to support ArcherDX as it works to launch multiple novel diagnostic products,” said Altman. “We expect the company's flagship products to enable tailored therapeutic selection for cancer patients by providing actionable insights.”