Nodality raises $15.5M to support launch of acute myelogenous leukemia test

Nodality, Inc., a biotechnology company focused on the development of next generation personalized medicine tests in cancer and autoimmune disease, today announced it completed financing in which the company raised $15.5 million. The round was led by Pfizer Ventures, the venture capital arm of Pfizer Inc. (NYSE:PFE), a previous investor in Nodality, and Laboratory Corporation of America Holdings (NYSE:LH), with additional participation from previous investors, including Kleiner Perkins Caulfield & Byers, TPG Biotechnology, and Maverick Capital. Proceeds from this financing will be used to support commercial activities associated with the company’s launch of its first test in acute myelogenous leukemia, as well as to advance ongoing and new research and development programs in other hematologic malignancies, autoimmune diseases, and solid tumors.

“This financing is important to achieving our short-term business objectives and positioning the organization for long-term success, and we appreciate the support of our investors and strategic partners”

“This successful financing is a testament to Nodality’s potential impact and market potential in the personalized medicine arena,” stated Risa Stack, partner at Kleiner Perkins Caulfield & Byers.

“This financing is important to achieving our short-term business objectives and positioning the organization for long-term success, and we appreciate the support of our investors and strategic partners,” commented David R. Parkinson, MD, president and chief executive officer of Nodality, Inc. “We continue to focus on meeting our near-term commercial timelines, developing new tests, and expanding the market potential of Single Cell Network Profiling which we believe provides the opportunity to greatly improve patient care and outcomes as well as the drug development process.”