Strata Oncology gets $12M in series A round

Precision medicine company Strata Oncology Inc. (Ann Arbor, Mich.) raised $12 million in a series A round co-led by Arboretum Ventures and Baird Capital. Existing investor Michigan eLab also participated.

Strata plans to sequence tumors from 100,000 patients for free as part of its Strata Trial initiative, in which it intends to match patients to clinical studies of targeted therapies based on their tumors' genetic profiles. Co-founder and CEO Dan Rhodes told BioCentury that Strata is in discussion with "about 20" undisclosed pharmas developing targeted therapies. Rhodes said Strata initially will focus on solid tumors. ...