AltheaDx Inc., a leading personalized medicine company, today announced it has raised $30 million in Series C financing led by WuXi Healthcare Ventures. Among the firms joining WXHV are new investors WuXi PharmaTech, Ally Bridge Group and ALMA Life Sciences. This investment will enable the company to invest in prospective outcome trials for its IDgenetix® testing portfolio and expand its commercial capabilities. The IDgenetix® pharmacogenetics (PGx) testing portfolio enables personalized therapeutic decisions for patients suffering from some of the most prevalent clinical conditions, including: cardiovascular disease, neuropsychiatric disorders and pain. The Series C financing will also provide capital for product enhancements, international opportunities as well as other investments in long-term growth.
AltheaDx is a commercial stage molecular diagnostics company specializing in the field of pharmacogenetics, or PGx. IDgenetix, their PGx product testing portfolio, enables personalized therapeutic decisions for patients suffering from some of the most prevalent clinical conditions in the United States, including cardiovascular disease, neuropsychiatric disorders and pain. Their proprietary algorithm-based bioinformatic platform and PGx product testing portfolio are intended to serve as a tool to assist healthcare providers in identifying optimal drugs for their patients as well as dosing guidelines based on a patient’s genetic make-up, current prescription regimen and other key factors. IDgenetix is designed to enable healthcare providers to make timely and evidence-based decisions, which they believe can reduce the overall cost of patient care by reducing adverse events, optimizing patients’ overall therapeutic regimen and helping to achieve a faster therapeutic response.