Variantyx Secures $36M Investment As Testing Demand And Market Share Continues To Increase
FRAMINGHAM, Mass. – Variantyx, a leader in molecular diagnostics, announced today that it has secured an additional $36 million in funding from its portfolio of investors which includes Peregrine Ventures, Pitango HealthTech, New Era Capital Partners and Bosch Ventures. The company, a technology-driven provider of advanced genomic testing for genetic disorders, reproductive health and precision oncology markets has seen a rapid increase in test volumes in the first quarter of 2024, further expanding its market share. The additional investment, which brings the total amount invested in Variantyx to over $125 million, will fund additional technological and commercial expansion, enabling the company to capitalize on the shifting market, seizing the opportunity to provide cutting-edge, genome-based care to a larger number of patients while maintaining strong unit economics and building significant value.
“The funding demonstrates continued trust and confidence in our ability to deliver on the long-term goals of the company”
“It’s clear that the current shift away from panel and exome-based testing to whole genome testing benefits patients, providers and payers alike,” said Christine Stanley, Variantyx’s Chief Director of Clinical Genomics. “As a pioneer in clinically-accredited, genome-based testing with tens of thousands of genomes sequenced to date, Variantyx is well-positioned to maintain its leadership in genomic diagnostics with on-going innovation of new genome analysis technologies, providing real improvements in patient outcomes to an increasingly larger subset of the population.”
“The funding demonstrates continued trust and confidence in our ability to deliver on the long-term goals of the company,” said Haim Neerman, CEO of Variantyx. “The additional commercial expansion enabled by this newest investment will help further accelerate our growth to meet the market demand.”
About Variantyx
Variantyx is an award-winning, technology-driven molecular diagnostics company providing disruptive solutions for the genetic disorders, reproductive health, and precision oncology markets. The proprietary whole genome analysis platforms developed by Variantyx allow clinicians to better understand a person’s genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations. For more information, please visit www.variantyx.com.
