Today, 22 March, InnoSIGN, a precision medicine company, announced that it raised an $8M Series A financing. Proceeds will be used to finance a spin-out from Royal Philips to form a standalone company centered upon the OncoSIGNal pathway activity profiling technology. Investors in the round include Casdin Capital, Life Science Angels, Thuja Capital and Brabant Development Agency. Philips owns a minority stake in the new company.
InnoSIGN commercializes OncoSIGNal mRNA-based tests that measure the activity of signal transduction pathways in cancer and immune cells to predict how patients will respond to targeted drugs.
“We were impressed by the work done by Philips and the current InnoSIGN team in developing this unique diagnostic platform, for which we are confident it will be of great benefit for patients and physicians worldwide.”, said Harrold van Barlingen, managing partner of Thuja Capital Management.
With this investment, Thuja’s third fund (TCHF III) has now added a fifth company to its portfolio.
For more information on the Series A financing round in InnoSIGN, we refer to the press release.