Seer Announces Spin Out of PrognomIQ with $55 Million Initial Financing

Email Print Friendly Share September 15, 2020 16:01 ET | Source: Seer, Inc. -- PrognomIQ to develop multi-omics tests leveraging Seer’s Proteograph product -- -- Seer to retain minority ownership in PrognomIQ -- REDWOOD CITY, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Seer, Inc., a life sciences company focused on enabling exceptional scientific outcomes through the power of unbiased, deep, rapid and scalable proteomics information, today announced that it has spun out and completed the initial financing of $55M for a newly formed healthcare company, PrognomIQ, Inc. The round was led by healthtech and life sciences venture capital fund aMoon with participation from other existing Seer stockholders, including Fidelity Management and Research Company LLC, funds and accounts advised by T. Rowe Price Associates, Inc., Invus, Maverick Ventures, Emerson Collective, Wing VC and other new investors, including Bruker Corporation. Seer will retain a minority ownership position of approximately 19% in PrognomIQ, and Philip Ma, Ph.D., Founder and former Chief Business Officer of Seer, is the newly appointed Chief Executive Officer of PrognomIQ. About PrognomIQ PrognomIQ is a healthcare company pursuing the development and commercialization of multi-omics human tests for cancer and other complex diseases. There is large unmet need for improved tests that will allow for earlier detection, treatment and recurrence monitoring of disease. PrognomIQ will leverage Seer’s Proteograph in addition to genomics and metabolomics technologies, to develop multi-omics products to improve human health. About Seer Seer is a life sciences company focused on enabling exceptional scientific outcomes by commercializing transformative products that will drive breakthrough ideas by unlocking the deep, unbiased biological information that can make them a reality. Seer is developing its Proteograph™, which is an integrated solution consisting of consumables, automation instrumentation and proprietary software that performs deep, unbiased proteomics analysis at scale in a matter of hours. Seer designed the Proteograph to be efficient and easy-to-use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution broadly available to life sciences researchers.
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