Claritas Genomics Caps Landmark Year with New Investment After Launching Novel Diagnostic Tests for Childhood Disorders and Advancing the Application of Next-Gen Sequencing in Routine Clinical Care
Begins 2015 with $15 Million Investment by NextCODE Health (now part of WuXi-NextCODE Genomics), Boston Childrens Hospital, Cerner Corporation and Cincinnati Childrens Hospital Medical Center
CAMBRIDGE, MA Claritas Genomics announced today that it has secured $15 million in capital for its Series B round to expand its commercial operations, launch new next generation sequencing-based tests for diagnosis of pediatric genetic disorders and continue to build its network of clinical pediatric disease experts.
WuXi-NextCODE Genomics led the investment, joining A round investors Boston Childrens Hospital, Cerner Corporation and Cincinnati Childrens Hospital Medical Center, who participated in the B round. Claritas is positioned to play a central role in advancing the use of sequence-based testing to improve the diagnosis of rare diseases, said Hannes Smarason, co-founder of NextCODE and now COO of WuXi-NextCODE Genomics. We are proud to contribute to that effort with our technology and as part of a group of industry-leading stakeholders.
Physicians, patients, payors and researchers currently navigate a fragmented, inefficient system that negatively impacts patient outcomes.* Pooling their expertise and applying a systems approach, Claritass partners and investor base of leading healthcare providers and technology innovators are working together to accelerate the reality of personalized healthcare by removing the barriers to rapid and clinically actionable genetic diagnostics.**
As we build and deliver integrated solutions to unify the experience of pediatric healthcare for patients with suspected genetic disorders, our dynamic and diverse investor group represents our strengths, said Patrice Milos, Ph.D., Claritas CEO. Our work together has the potential to transform childrens healthcare, as 40% of pediatric disorders are understood to have a clear genetic basis today.
Todays announcement is the latest in a series of milestones for Claritas, which spun out of Boston Childrens Hospital in February 2013. Early last year the company obtained a contract with the Million Veteran Program to sequence 19,000 exomes for research (an exome contains the protein-encoding parts of all the genes in a genome). In September 2014, Claritas launched a number of novel diagnostic tests for genetically-based neurological and kidney diseases in children that have set new standards of precision for understanding the genetics of these conditions, improving physicians ability to accurately diagnose and manage these disorders. In December, Claritas announced a partnership with NextCODE Health, accessing NextCODEs software platform to speed the performance and delivery of genetic test results and to provide a seamless interface for both the research and clinical community. Also in December, Patrick F. Terry, co-founder of multiple life science ventures, joined Claritas as Chief Commercial Officer.
About Claritas Genomics
Claritas Genomics is a clinical genetic diagnostic testing company that combines the clinical expertise of the worlds best pediatric specialists with next generation sequencing technology to inform and improve patient care. Claritas offers a full range of services that take the guesswork out of selecting molecular tests and support clinicians as they navigate the increasingly complex landscape of genetic diagnostics. Claritass interpretive services are based on the most up to date and reliable findings and Claritass reports are designed to clearly communicate complex genetic information to guide medical treatment.
* Organizational Fragmentation and Care Quality in the US Health Care System. NBER Working Paper. Cebul RD, Rebitzer JB, Taylor LJ, Votruba M. http://www.nber.org/papers/w14212
*Institute of Medicine. Crossing the Quality Chasm: A New Health System for the 21st Century.Washington, DC: National Academy Press; 2001.http://www.iom.edu/Reports/2001/Crossing-the-Quality-Chasm-A-New-Health-System-for-the-21st-Century.aspx
** The business of genomic testing: a survey of early adopters. James M. Crawford, MD, PhD1,* Lynn Bry, MD, PhD2 John Pfeifer, MD, PhD3 Samuel K. Caughron, MD4 Stephen Black-Schaffer, MD5 Jeffrey A. Kant, MD, PhD6 and Jill H. Kaufman, PhD7
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