Press Release – December 17, 2019
Seer Announces $55 Million in Series D Equity Financing
Bringing in New Investors aMoon Fund and T. Rowe Price Funds
Capital will enable continued advancement of novel Proteograph™ platform and commercialization of first-in-class proteomics products
Redwood City, CA, December 17, 2019 — Seer, Inc., a life sciences company focused on capturing and translating proteome insights to advance human health, today announced it has raised $55 million in an oversubscribed Series D equity financing. The round was led by healthtech and life sciences venture capital fund aMoon, with participation from funds and accounts advised by T. Rowe Price Associates, Inc., all current Seer investors and other new investors. Proceeds from this financing will be used to continue advancing Seer’s proprietary Proteograph™ platform, as well as ongoing development and future commercialization efforts of first-in-class proteomics products for research and clinical applications.
“We are thrilled to partner with this world-class syndicate of investors, including new participants aMoon and T. Rowe Price, who collectively share our broad strategic vision of delivering on the promise of proteomics as a tool for differentiated, dynamic insights into the mechanisms of disease,” said Omid Farokhzad, M.D., Chief Executive Officer and Founder of Seer. “We have made significant progress developing our technology to harness the tremendous power of proteomic data, and we look forward to utilizing the capital from this latest financing to accelerate our product development and commercialization in key areas while continuing to build out our team and expertise.”
“When you consider the challenges of understanding and capturing human proteomic data, it is clear there is a vast, untapped opportunity to impact human health,” said Tomer Berkovitz, Ph.D., Partner and CFO at aMoon Fund and lead investor of this funding. “We are impressed with the Seer team’s approach and progress, and we are very enthusiastic about the potential for the company’s platform to meet the research and clinical need to accurately capture proteomic data at an unprecedented speed and scale.”
Dr. Farokhzad continued, “Undoubtedly, large-scale proteomics has the potential to make scientific, clinical and market impact at the same or higher levels than genomics has made over the past decade. We believe our proprietary technology, multifaceted product strategy and exceptional team well position Seer to be a leader in the proteomics space.”
Seer, founded by Omid Farokhzad, M.D., Philip Ma, Ph.D. and Robert Langer, Sc.D., with investment from Maverick Ventures, is a life sciences company focused on capturing deep molecular insights from the proteome to enable novel insights and breakthroughs in the understanding of biology and disease. The company’s novel Proteograph™ platform allows for the first-ever generation of proteomic information with high accuracy at a scale and speed not previously possible, complementing genomic and other health information, with a goal of enabling breakthroughs in the most challenging research and clinical problems, such as early disease detection. Learn more by visiting the website, www.seer.bio.
aMoon, founded by Marius Nacht and Dr. Yair Schindel, is a global healthtech and life sciences VC fund based in Israel. The fund aims to accelerate cure for life-threatening diseases and reduce major cost-drivers in healthcare, by leveraging the growing convergence of healthcare and technology. Learn more by visiting the website, www.amoon.fund.
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