Lifecode Raises $20.5 Million In Series A

By Dan Anderson ● Feb 24, 2015

Lifecode is a rapidly growing next-generation-sequencing (NGS) based molecular diagnostics company that has raised a previously undisclosed $20.5 million A-Round led by Sequoia Capital, The Mayo Clinic, and Mayo Ventures. Lifecode also announced that it has received accreditation from the College of American Pathologists (CAP).

“NGS based comprehensive molecular profiling is about to fundamentally disrupt the market for cancer-related molecular diagnostics. As sequencing becomes more routine, the bottleneck in the field shifts to the difficult task of providing community physicians with concise, accurate and actionable information regarding their patient’s disease,” said Lifecode CEO Chris Rivest. “With new drugs being approved every year, hundreds of new actionable molecular markers, thousands of clinical trials, and hundreds of thousands of new publications, the ability to keep up to date with such a rapidly changing field is incredibly difficult. Our goal at Lifecode is to leverage world-class computational tools, algorithms, and data science to manage this flood of information for physicians and their patients.”

The CAP Laboratory Accreditation Program is a national effort with an emphasis on the highest standard where inspectors examine staff qualifications, equipment, quality controls, safety programs, records and management of clinical laboratories.

“Lifecode is pleased to be among the select NGS specialized diagnostic laboratories to have received full accreditation from the College of American Pathologists,” added Lifecode Laboratory Director Dr. Tim Triche. “CAP accreditation represents the highest benchmark in the industry, ensuring reliable, reproducible test results that meet the most stringent quality assurance standards.”