PinkDx Announces Second Close of Upsized Series A Financing with New Investors Blue Venture Fund, Sandbox Clinical Ventures and BEVC

Original from: PinkDx

PinkDx, Inc., an early-stage company focused on positively impacting the health of women throughout their life journey, today announced that it has completed a second close of its previously announced Series A financing, raising an additional $5 million, including from new investors Blue Venture Fund, Sandbox Clinical Ventures and BEVC. This brings the total raised in the upsized round to $45 million. The funding will help PinkDx further advance its first test, which is intended to clarify diagnosis for women presenting with a potential gynecologic cancer.

The Series A financing was led by Catalio Capital Management, LP, The Production Board and Mountain Group Partners, with participation by Byers Capital, Mayo Clinic and new investors Blue Venture Fund, Sandbox Clinical Ventures and BEVC, founded by Risa Stack, Ph.D., and other industry-investment veterans. 

“We are delighted to welcome these new investors as they each offer strategic value that will be helpful as we develop and advance our first test toward commercialization,” said Bonnie Anderson, PinkDx’s cofounder, chairwoman and chief executive officer. “We are making great progress in the discovery and development of our first test and this additional funding will help accelerate that process through the test’s clinical validation.”

“PinkDx’s use of cutting-edge science and technology to deliver better answers for women and their physicians aligns with our mission to change the healthcare system and positively impact people’s lives,” said Tom Hawes, M.D., partner at Sandbox Clinical Ventures. “We believe PinkDx’s first test will fundamentally change care for women being evaluated for a potential gynecologic cancer, enabling them to avoid unnecessary office visits and procedures or receive better, faster treatment when needed. Moreover, this will help women, physicians and the healthcare system overall.”

“Women’s medical needs have been vastly under-served to date,” said Risa Stack, Ph.D., founding partner of BEVC and PinkDx board member. “We believe PinkDx is going to fundamentally change this with its comprehensive approach to applying advanced technology to specific unmet needs and through its team’s proven ability to bring clinically meaningful tests to market.” As part of BEVC’s investment, PinkDx is now a member of Bakar Labs, a state-of-the-art and globally one of the largest university-linked life science incubators, operated by the University of California, Berkeley.

BEVC invests at the intersection of science, computation, and engineering to drive innovations that advance human and planetary health. Through its partnership with the Bakar Ecosystem at the University of California Berkeley (UC Berkeley) and San Francisco (UCSF) – institutions renowned for research excellence and entrepreneurship – BEVC is uniquely positioned to support pioneers transforming groundbreaking science into disruptive companies.

PinkDx will initially focus on improving the diagnostic outcomes for women who have vague symptoms that may signal a gynecological cancer. Each year in the United States, an estimated 1.5 million women1-3 present with general symptoms including bloating, pelvic pain and abnormal bleeding, for which the cause is not clear. Over 100,000 women in the U.S. are ultimately diagnosed with a gynecological cancer each year.4 PinkDx will develop solutions to replace invasive and painful diagnostic procedures and mitigate the significant delays women and their doctors often face in obtaining answers.

Source: PinkDx Announces Second Close of Upsized Series A Financing with New Investors Blue Venture Fund, Sandbox Clinical Ventures and BEVC