Genomic-sequencing company ArcherDX raises $35M

BOULDER — ArcherDX Inc., a Boulder-based company that develops genomic sequencing assays and analysis software, has closed a Series A funding round, raising $35 million.

Boulder Ventures Ltd. and PBM Capital Group LLC led the funding round, with Longwood Fund and Peierls Foundation also participating.

Kyle Lefkoff of Boulder Ventures has joined the ArcherDX board of directors.

A Form D filed with the U.S. Securities and Exchange Commission, March 20, reported $37.64 million in equity financing raised by the company.

The capital infusion comes after a year of record growth for ArcherDX and penetration into liquid biopsy, immune sequencing, and companion-diagnostic markets. The company will use the funding to expand its domestic salesforce, increase its international commercial operations, scale its oncology-focused CDx co-development program and invest in its in vitro diagnostic pipeline.

“We’ve been very successful in developing the technology, establishing scalable processes and driving rapid revenue growth,” Jason Myers, CEO and co-founder of ArcherDX, said in a prepared statement. “This round of funding, and the addition of Kyle to our board, will help us to execute on our mission of providing the best molecular pathology tools both in research and clinical settings on a global scale.”

ArcherDX in November announced an agreement with Celgene to develop and commercialize a next-generation-sequencing-based oncology companion diagnostic for Celgene’s investigational drug CC-122, for use in diffuse large B cell lymphoma.

ArcherDX retained the worldwide rights to commercialize the test and will pursue all regulatory filings.

“The rapid adoption of ArcherDX’s workflow by leading cancer centers and pharma companies has been impressive,” Lefkoff said in a prepared statement. “We look forward to supporting Jason and the ArcherDX team in their efforts to improve the lives of patients through improved genetic targeting of new therapies.”

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