Circular Genomics raises USD 8.3M

Circular Genomics announced the closing of an $8.3 Million Series A investment round. Led by Mountain Group Partners, this round also welcomes new investor UNM Rainforest Innovations in addition to initial investors, including Cottonwood Technology Fund, Tramway Venture Partners, and other undisclosed individuals.

The new funding will enable Circular Genomics to build and scale commercial operations in preparation for the launch of the world’s first circular RNA-based clinical assay. This groundbreaking test is poised to improve the standard of care in depression treatment by informing clinicians of a patient’s likelihood to respond to antidepressant medications. It addresses a critical need in the healthcare system, streamlining patient care and bringing renewed hope to the millions of patients grappling with high failure rates of first-line treatments and lengthy periods of trial-and-error to find the right therapy.

“Precision psychiatry, driven by circular RNA biomarkers, equips physicians with a biomarker-based approach towards personalized care for patients fighting major depression,” said Dr Paul Sargeant, CEO, Circular Genomics. “We plan to launch our first test in 2024, which will predict response to SSRI antidepressants, addressing the issue of high therapy failure rates, and low clinical outcomes. Furthermore, the launch of this first assay paves the way for a set of tests covering the complete patient care continuum in major depression, and using the same circular RNA platform, in other neurological diseases too.”

“We are excited to support Circular Genomics in advancing the development of the circular RNA biomarker platform,” said Joe Cook, III, Managing Partner of Mountain Group Partners. “The expansion of this platform holds the potential to dramatically improve patient outcomes and broaden our understanding of psychiatric and neurological conditions.”
MB Bureau