# Adaptive Biotechnologies Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/adaptive-biotechnologies

- Industry: Biotechnology
- Headquarters: Seattle, US
- Website: www.adaptivebiotech.com
- Total disclosed funding: $307M
- Latest round: Series F (May 5, 2015)
- Investors on record: 7

## About

Adaptive Biotechnologies Corporation develops innovative diagnostics and therapeutics that leverage the adaptive immune system, focusing on advanced solutions for disease detection and treatment monitoring in oncology.Founded in 2009 and headquartered in Seattle, US, Adaptive Biotechnologies Corporation specializes in harnessing the adaptive immune system for diagnostics and therapeutics. The company was co-founded by Chad Robins and Harlan Robins. They raised a total of USD 320.00 mn through multiple funding rounds, with the most recent being a Private Placement/Follow on round in June 2019, where they raised USD 320.00 mn. Under the leadership of CEO Chad Robins, the company has established a strong presence in the biotechnology sector, completing 13 deals since its inception.Adaptive Biotechnologies specializes in innovative diagnostics and therapeutics harnessing the adaptive immune system, primarily through its flagship product, clonoSEQ. This assay employs next-generation sequencing (NGS) technology to assess minimal residual disease (MRD) in patients undergoing treatment for lymphoid malignancies, such as chronic lymphocytic leukemia (CLL) and multiple myeloma. By identifying and quantifying disease-associated immune receptor DNA, clonoSEQ offers a highly sensitive and specific measurement that significantly enhances the understanding of treatment efficacy and disease progression. The company's products are utilized by leading drug developers, clinical researchers, and healthcare providers, with a strong emphasis on improving patient outcomes in the oncology space. Adaptive's products are marketed primarily in North America and Europe, where they are integrated into clinical practice and supported by a growing body of research.Adaptive Biotechnologies generates revenue primarily through its clonoSEQ MRD testing services, utilized in both clinical and biopharmaceutical settings. The company reported a revenue of USD 178.96 mn for the year 2024, with an EBITDA of USD -144.996 mn. Revenue is derived from direct transactions with healthcare providers and biopharma companies who utilize the testing services either on a per-test basis or as part of larger strategic partnerships. The company benefits from extensive insurance coverage for its diagnostic services, enabling widespread access for patients and healthcare professionals. Through these structured business relationships, Adaptive Biotechnologies aims to deliver products that drive advancements in disease management and therapeutic development.Adaptive Biotechnologies plans to leverage its recent funding to enhance its product offerings and expand into new markets. The company is focused on developing additional assays and expanding the applications of clonoSEQ in oncology treatments. With the substantial funding raised in June 2019, Adaptive aims to strengthen its research and development capabilities, targeting broader applications in the diagnostics space. Furthermore, the company is exploring opportunities to enter emerging markets in Asia and Europe by 2025, where there is significant potential for growth in the biotechnology sector.

## Funding rounds

- Series F, May 5, 2015, $195M — Alexandria Venture Investments, Viking Global Investors, Tiger Management Advisors, Casdin Capital, Rock Springs Capital, Matrix Capital Management, Senator Investment Group
- Series D, Jul 29, 2014, $2M — Viking Global Investors
- Series D, Apr 4, 2014, $105M — Viking Global Investors
- Series C, Jul 1, 2013, $5M — Viking Global Investors

## Investors

- Viking Global Investors (https://capitalatlas.ai/funds/viking-global-investors) — Series C, Series D, Series F
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series F
- Tiger Management Advisors — Series F
- Casdin Capital (https://capitalatlas.ai/funds/casdin-capital) — Series F
- Rock Springs Capital — Series F
- Matrix Capital Management — Series F
- Senator Investment Group (https://capitalatlas.ai/funds/senator-investment-group) — Series F