SAN DIEGO, Jan. 5, 2016 /PRNewswire/ -- Pathway Genomics Corporation, a global precision medicine company with mobile health solutions, today announced it has successfully raised over $40 million in a Series E financing.
This brings the total investment into Pathway Genomics to over $130 million. Investors in this round of funding include IBM Watson, Pathway's partner in the development of a mobile health application using artificial intelligence to provide personalized health and wellness guidance.
Additional Series E investments will be completed in the first quarter of 2016. This investment will enable the company to expand their presence in the United States and beyond the 40 countries it currently serves internationally, capturing a growing share of the $38 billion global genomics market.
"I'm proud that Pathway is now recognized as a pioneer in the genetic testing industry known for providing affordable and clinically actionable tests not just in the US, but in many countries that don't have access to this type of advanced genetic testing. This capital will allow us to continue to expand and validate the tests we offer, grow our sales force, and invest in cutting edge technology for our CAP and CLIA accredited laboratories," said Jim Plante, Founder and CEO of Pathway Genomics.
About Pathway Genomics Corporation
Founded in 2008, Pathway Genomics has rapidly become a leader in the commercial healthcare industry. Pathway Genomics' success lies in its commitment to deliver innovative healthcare solutions. The company's program with IBM Watson is the first of its kind. The program is a smartphone app that merges artificial intelligence and deep learning with personal genetic information. The app provides users with personalized health and wellness information based on the individual's health history.
Based in San Diego, the company's CLIA and CAP accredited clinical laboratory provides physicians and their patients in more than 40 different countries with actionable and accurate precision healthcare information to improve, or maintain, health and wellness. Pathway Genomics' testing services cover a variety of conditions including cancer risk, cardiac health, inherited diseases, nutrition and exercise response, as well as drug response for specific medications including those used in pain management and mental health. For more about Pathway Genomics, visit www.pathway.com or follow us on Twitter, LinkedIn and Facebook.
SOURCE Pathway Genomics