Perthera Secures $8.7 Million Investment from Pilot Growth Equity to Expand Global Leadership in Precision Cancer Analysis (“PCA”)

MCLEAN, Va.–(BUSINESS WIRE)–Perthera,
Inc. today announced the completion of an $8.7 Million Series A
financing. Pilot
Growth Equity, a technology growth equity firm with offices in San
Francisco, New York and Washington, DC, led the round and is the sole
institutional investor. Perthera is the market and technology leader in
Precision Cancer Analysis (“PCA”), which provides physicians a more
accurate understanding of a patient’s cancer and thereby the ability to
identify prospective treatment options personalized to the individual
patient. At the same time, a PCA provides individuals access to a
world-class actionable therapy plan wherever in the world they may be.
“With Operation Moonshot and other initiatives worldwide exploring how
new medical technologies can finally put an end to cancer, we think
current practices are going to evolve and change dramatically,” said
Perthera CEO Andrew Mignatti. “One major change in the foreseeable
future will be that a PCA will be the first step undertaken by people
diagnosed with cancer just as today an MRI is the first step of those
who need detailed pictures of a body’s structural and organic systems.
That detailed level of analysis will, in turn, lead to the
identification of specific therapies, including those in clinical
trials, appropriate for individual patients. One major result will be
that oncologists, families and patients can make more informed decisions
about their care,” he said.
Emmanuel “Chip” Petricoin, PhD, who co-founded the company with
well-known investor and tech executive Dendy Young, explained, “The
rapid progress being achieved in the field of precision medicine offers
the very real promise of more successful new treatments for cancer. But
a precise understanding of an individual’s particular cancer tumor is a
prerequisite to the use of precision medicines, and that’s what a PCA
can provide,” he said. “We do that by using the most sophisticated and
comprehensive molecular analysis available. Although genomic testing has
proven to be a breakthrough technology, an even more comprehensive
portrait of a patient’s cancer can be obtained through our multi-omic
analysis. Our unique workflow protects tissue, utilizes best-in-class
molecular testing, and leverages our unique and growing databank of
previous treatment histories and patient outcomes. The PCA is becoming a
critical part of the future of cancer treatment,” Petricoin added.
Neil Callahan, a co-founder and managing director of Pilot Growth
Equity, who has joined Perthera’s board, said, “Perthera’s growth over
the last four years has been compelling. Hundreds of oncology practices,
including many of the most respected cancer treatment centers and
hospitals across the United States, have ordered the PCA. Adoption of
the PCA as the oncologist’s and patient’s first step in developing a
cancer treatment strategy is accelerating at a rapid pace. Perthera’s
proprietary software platform automates the creation of the PCA,
integrates the data from all previous analyses and patient history,
produces a detailed personalized analysis of the patient’s unique
cancer, and delivers an improved patient experience plus an increasingly
higher probability of medical success. In addition to its technology
innovations, Perthera has formed a world class Virtual Tumor Board made
up of leading oncologists who provide the treating physicians and
patients with a ‘virtual second opinion’ based on their expertise in
concert with the Perthera PCA,” he said. “We think Perthera has already
changed cancer analysis forever and is at the very forefront of
personalized and precision healthcare. We are honored to be their
partner on this mission.”
About Perthera, Inc.
Perthera is the market and technology leader in developing Precision
Cancer Analysis (“PCA”) used to provide detailed full molecular
information about cancer tumors. The PCA is a first step in the use of
“precision” (sometimes called “personalized”) medical treatments for
cancer patients. It is based in the Tysons Corner area of Northern
Virginia. For more information, see www.Perthera.com
About Pilot Growth Equity
Pilot Growth Equity (“Pilot Growth”) is a technology growth equity firm
with offices in San Francisco, New York and Washington, DC.
Pilot Growth invests in growth-stage technology companies that require
capital and strategic resources to accelerate their growth. Founded by
entrepreneurs, Pilot Growth provides its portfolio companies a
combination of world class operating, company-building, and advisory
expertise, as well as global access to private and public sector
customers. Please visit us at www.pilotgrowth.com.