Nodality Completes Series B Financing
South San Francisco, CA, March 16, 2009Nodality, Inc., a biotechnology company focused on the development of next generation personalized medicine tests in cancer and autoimmune disease, announced it has completed a $20 million Series B funding, from Maverick Capital and Pfizer Venture Investments in addition to the original Series A participants Kleiner Perkins Caulfield and Byers together with TPG Biotechnology.
Nodality is pleased to announce that David B. Singer, a limited partner at Maverick Capital has joined the company's Board of Directors.
Proceeds from this financing will be used to advance research activities associated with the company's first test in acute myeloid leukemia, as well as to advance ongoing and new research and development programs in other hematologic malignancies, autoimmune diseases, and solid tumors.
About NodalityNodality is a private, South San Francisco-based biotechnology company focused on improving the development and clinical use of therapeutics in cancer and autoimmune disease through the application of its proprietary Single Cell Network Profiling technology platform. Through its ability to functionally characterize cell signaling networks at the single cell level of resolution Nodality is committed to the biological characterization of individual patients to optimally match them with biologically-targeted treatments.
About Single Cell Network ProfilingSingle Cell Network Profiling (SCNP) is a proprietary technology licensed from Stanford University to characterize cell signalling networks in patients with cancer and autoimmune diseases. SCNP, by measuring functional signaling network behavior in single cells, has several advantages over other currently used molecular technologies. These include unprecedented insight into the presence and clinical meaning of cellular heterogeneity including the importance of rare cells such as drug-resistant and stem cells. As the technology has widespread application in both preclinical and clinical drug development, Nodality is also utilizing SCNP in collaboration with drug developers to decrease the time, cost, and risks of drug development.