22 July 2020
Seer Announces $55M Financing Led by Fidelity Management and Research Company
— Funding to accelerate development and commercial launch of Proteograph™ suite of reagents, instrument and software products to deliver on untapped promise of proteomics —
Redwood City, CA, July 22, 2020 — Seer, Inc., a life sciences company focused on empowering exceptional scientific outcomes through the power of rapid, deep, unbiased proteomics information, today announced that it has raised $55 million in a new funding round. This latest equity financing was led by Fidelity Management and Research Company, and included new investor, HBM Healthcare Investments. All existing investors also participated in the round, including funds and accounts advised by T. Rowe Price Associates, Invus, aMoon and Maverick Ventures.
“We’re thrilled by the high caliber of investors we continue to attract who share Seer’s vision to transform proteomics and empower researchers to exponentially advance our understanding of human health and disease,” said Omid Farokhzad, M.D., Chief Executive Officer and Founder of Seer. “We are paving the road for researchers to measure hundreds of thousands of distinct protein variants that make up the human proteome at population scale and provide the missing functional context to genomic data sets. This will have a fundamental impact on our understanding of biology and disease, including the selection of more precise biomarkers for early disease detection and the elucidation of novel targets for disease treatment.”
Seer will use the proceeds from this financing to expand its research and development activities and to prepare for the planned 2021 commercial launch of its Proteograph™ suite of products, comprising reagents, instruments, and software.
The Proteograph suite of products leverage Seer’s proprietary engineered nanoparticles to enable an entirely new way of accessing the proteome. As demonstrated in Seer’s publication today in Nature Communications, Seer’s nanoparticles are engineered to survey the proteome without bias and explore the >1 million protein variants that are postulated to exist across the human population, from protein concentration ranges spanning many orders of magnitude in complex biological samples in a rapid manner.
“The last 15 years has been marked by an explosion in genomic and transcriptomic data. Access to this level of information has shed new light on our understanding of human health. This impact could be even larger with the information that only large-scale unbiased proteomics can provide,” said Omead Ostadan, President and Chief Operating Officer at Seer, who recently joined from Illumina, where he previously served as Chief Product and Marketing Officer and a member of the executive management team. “Much like massively parallel sequencing methods did for genomics, Seer’s nanoparticles enable access and sampling in an unbiased, deep, efficient manner, opening up an entirely new gateway to the proteome. By enabling researchers to survey the proteome in such a transformative manner, we believe our Proteograph suite of products will cause a fundamental shift in research and lead to new insights, methods and end markets, extending the reach and impact of proteomics.”
Seer is a life sciences company focused on empowering exceptional scientific outcomes by removing multiple technological limitations that stand between breakthrough ideas and the deep, unbiased proteomics information that can make them a reality. Seer is developing its Proteograph™ suite of products, which includes reagents, instruments and software, to give researchers an automated and simple-to-scale solution to access and mine the richness of the proteome, a capability not currently available. We believe that unbiased, large-scale proteomics can, and must, become a reality for us to advance what is possible in biology and disease treatment. Our solutions will enable basic and translational researchers to see the proteome through an entirely new lens, one that does not compromise their ability to see the proteome’s richness and diversity as it appears in individuals – and that is where transformative biological breakthroughs can begin. Visit www.seer.bio to learn more.
For Media Inquiries:
Liz Melone, Scient Public Relations
For Investor Inquiries:
Lynn Lewis, Gilmartin Group