Ann Arbor’s Strata Oncology secures $90 million in recent funding round

Strata Oncology offices in Ann Arbor. (Strata Oncology)

ANN ARBOR – Strata Oncology Inc. recently announced it raised $90 million in a Series C financing round.

The company specializing in precision oncology and individualized cancer treatment therapies will use the proceeds to accelerate the development of its early-stage cancer personalized minimal residual disease assay and progress its novel RNA-based treatment selection tests for certain types of tumors.

Since its founding in 2015, the firm has raised a total of $130 million.

Wellington Management led the funding in the latest round. Other new investors include Monashee Investment Management, Cormorant Asset Management and Highside Capital Management.

Strata’s existing investors include:

  • Merck Global Health Innovation Fund
  • Pfizer Ventures
  • Arboretum Ventures
  • Baird Capital
  • Deerfield Management
  • Renaissance Venture Capital Fund

“We are grateful to our new and existing investors for their commitment to our bold mission of delivering the best possible treatment for each patient, as early as possible,” Dan Rhodes, co-founder and CEO of Strata Oncology said in a statement.

“This financing will enable us to increase our investment in our platform, programs, and team, as we combine highly sensitive MRD testing with DNA and quantitative RNA-informed treatment selection testing.”

The funding will help Strata expand its advanced treatment for solid tumors, which is based on its comprehensive genomic and profiling platform.

Using a single specimen of tumor tissue, the platform called StrataNGS can generate comprehensive molecular insights using highly quantitative RNA expression and genomic profiling.

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About the Author:

Meredith has worked for WDIV since August 2017 and was voted one of Washtenaw County's best journalists in 2019 by eCurrent's readers. She covers the community of Ann Arbor and has a Master's degree in International Broadcast Journalism from City University London, UK.