Personalized medicine testmaker AssureRx Health has raised a $12.5 million series C round of investment that itll use to help commercialize its tests that help doctors pick the right drugs based on a patients genes.

The latest funding for the Cincinnati-area company is further evidence of how lucrative a field investors believe personalized medicine can be. Todays series C investment follows an $8 million line of credit earlier this year and an $11 million series B round of funding last year.

The funding will go towards expanding sales coverage, sponsoring multiple clinical studies, and developing new products, the company said.

Its first test, GeneSightRx Psychotropic, takes the same approach for psychiatric drugs.

The latest round was led by Four Rivers Group and existing investors Claremont Creek Ventures and Sequoia Capital, and featured a host of other participants, including Cincinnati Childrens Hospital Medical Center and Mayo Clinic.

Our goal is to build the leading clinical informatics company providing pharmacogenomic and other treatment decision support products to help physicians individualize the treatment of patients with neuropsychiatric and other disorders, CEO Jim Burns said in a statement.

In the past, AssureRx has said that future products could include tests that help doctors choose medications for patients who have neurodegenerative diseases like Alzheimers or Parkinsons, as well as disorders such as post-traumatic stress.

A company spokesman didnt immediately return a call.

Excerpt from:
Personalized medicine testmaker AssureRx raises $12.5M series C round

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