# Rna Diagnostics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rna-diagnostics

- Industry: Medical Devices & Equipment
- Headquarters: Toronto, Canada
- Website: www.rnadiagnostics.com/
- Total disclosed funding: $9M
- Latest round: Series A (Jul 4, 2024)
- Investors on record: 7

## About

Rna Diagnostics Inc., based in Canada, specializes in developing advanced diagnostic solutions, particularly focusing on cancer therapy response through its innovative biomarker platform.Founded in 2010 and headquartered in Toronto, Canada, Rna Diagnostics Inc. is dedicated to providing precise diagnostic solutions for cancer treatment. The company successfully closed its latest funding round on July 4, 2024, securing USD 4.000 mn in Series A funding led by NovaQuest Capital Management and supported by several other investors. The total amount raised by the company to date stands at USD 4.000 mn, with two recorded deals.Rna Diagnostics specializes in the development and commercialization of the Veridapt DX™ predictive biomarker platform, which measures tumor response to cancer therapies. This platform offers early insights into tumor response to neoadjuvant treatment, aiding in predicting disease-free survival for solid tumor patients, particularly those with breast cancer. By monitoring ribosomal RNA (rRNA) disruption in tumor cells, Veridapt DX allows healthcare professionals to make timely treatment decisions within five weeks of initiating therapy, while currently being validated in the BREVITY clinical trial across seven countries.Rna Diagnostics generates revenue primarily through the clinical laboratory sale of its Veridapt DX™ biomarker assay. The company engages in business-to-business transactions with healthcare providers, including hospitals and oncology clinics, facilitating the use of their diagnostic platform to inform treatment strategies. Transaction structures involve direct billing for assays performed on patient samples, while the company aims to form partnerships with healthcare institutions to enhance the integration of the Veridapt DX™ platform into their oncology practices.In July 2024, Rna Diagnostics Inc. raised USD 4.000 mn in Series A funding to expand its network and strengthen partnerships with international companies in the animal health sector. The company is focused on enhancing its offerings and plans to explore new markets, although specific regions have not been disclosed. The recent funding will support these initiatives and facilitate the development of upcoming products designed to further improve cancer treatment outcomes.

## Funding rounds

- Series A, Jul 4, 2024, $4M — NovaQuest Capital Management, Equity Gap, Scottish Enterprise, Companion Fund, Kyoritsu Seiyaku Corporation, Animal Health Angels
- Series A, Nov 8, 2018, $5M — iGan Partners

## Investors

- iGan Partners (https://capitalatlas.ai/funds/igan-partners) — Series A
- NovaQuest Capital Management (https://capitalatlas.ai/funds/novaquest-capital-management) — Series A
- Equity Gap (https://capitalatlas.ai/funds/equity-gap) — Series A
- Scottish Enterprise (https://capitalatlas.ai/funds/scottish-enterprise) — Series A
- Companion Fund — Series A
- Kyoritsu Seiyaku Corporation — Series A
- Animal Health Angels — Series A