Oncology-Focused Adaptive Bio Gets $105M from Viking Global
April 10, 2014
Adaptive Biotechnologies, the provider of a research platform and diagnostic products for the treatment of cancer, autoimmune disorders and infectious diseases, has announced the completion of its Series C financing round and the completion of a newly created Series D round with a $105 million investment from Viking Global Investors. Viking's investment contributed $5 million to close out the Series C round and $100 million in the Series D round, bringing Adaptive's total capital raised to around $120 million. Viking is the sole investor in the Series D round and will take an observer seat on Adaptive's Board.
Initially, funds will be allocated to the expansion of the company's research platform, immunoSEQTM, via the launch of a research use only kit in the third quarter of 2014. Funds will also be used to fuel the expansion of the company's first diagnostic product, clonoSEQTM, for monitoring relapse in patients with certain blood cancers. Resources will also be deployed to validate and launch an assay as a predictive biomarker of response to treatment with cancer immunotherapies.