PinkDx, an early-stage company focused on positively impacting women’s health throughout their life journey, has launched with $40 million in Series A funding. The funding was co-led by Catalio Capital Management, LP, and The Production Board. Other investors include Mountain Group Partners, Byers Capital, and Mayo Clinic.
The company will use the funding to pursue its vision of identifying unmet medical needs that are unique to women, addressing them with scientific rigor, and providing answers that have an immediate and positive impact on their lives. The company will use a deep scientific approach to test development, focusing initially on gynecological cancers.
PinkDx will focus initially on improving the diagnostic outcomes for women who have vague symptoms that may signal gynecological cancer. Every year in the US, over 1 million women present with general symptoms including bloating, pelvic pain, and abnormal bleeding in which the cause is not clear. Over 100,000 women in the U.S. are diagnosed with gynecological cancer each year. PinkDx will develop solutions for replacing invasive and painful diagnostic procedures and mitigate the significant delays women and their doctors often face in obtaining answers.
PinkDx cofounders Bonnie Anderson and Giulia C. Kennedy, Ph.D., the company’s chief scientific officer, utilized a similar approach of applying cutting-edge science to a clinical problem at Veracyte (a global diagnostics company that Anderson cofounded). And Veracyte’s pioneering Afirma test was developed to reduce unnecessary and invasive procedures in the evaluation of potentially cancerous thyroid nodules and has since been broadly adopted as the diagnostic standard of care. Tim McMeekan, the third cofounder of PinkDx, serves as chief financial officer and chief business officer.
PinkDx also revealed that Alison Cowan, M.D., M.S.C.R., has joined the company as chief medical officer and will guide the clinical development of PinkDx’s solutions. Before joining PinkDx, Dr. Cowan served as head of Medical Affairs for Mirvie and, before that, as medical director for Hologic’s Diagnostics division. And she has 14 years of clinical experience in academic and community settings and maintains a clinical practice as an OB/GYN hospitalist in Colorado. Dr. Cowan received her medical degree and master’s in clinical research from Emory University and completed her OB/GYN residency at Northwestern University.
PinkDx is led by an experienced team of diagnostics industry pioneers, executives, and investors, including:
— Bonnie Anderson, cofounder, chairwoman, and chief executive officer: Previously co-founded and served as chairwoman and chief executive officer of Veracyte
— Giulia C. Kennedy, Ph.D., co-founder and chief scientific officer: Previously served as chief scientific officer and chief medical officer of Veracyte
— Tim McMeekan, cofounder, chief financial officer, and chief business officer: Co-owner of Sagian before becoming chief executive officer of privately held companies in the health and beauty sector
— Alison Cowan, M.D., M.S.C.R., chief medical officer: Practicing OB/GYN who previously served in medical leadership roles at Mirvie and Hologic
— Isaac Ro, Board member: Partner at Catalio Capital; previously served as executive chairman of Haystack Oncology and chief financial officer of Sema4 and Thrive Earlier Detection
— Risa Stack, Ph.D., Board member: Partner at The Production Board; venture capital veteran who led investments in Genomic Health, Foundation Medicine, and Veracyte
— Joe Cook, III, Board member: Partner at The Mountain Group; led investment in Castle Biosciences
— Kelly Krajnik, Board observer: Senior director of business development at Mayo Clinic
— Matthew Hobson, Board observer: Principal at Catalio Capital
KEY QUOTES:
“We are honored that this discerning group of investors recognized the tremendous potential of both our approach and our team. This funding, along with our best-in-class expertise, a proven discovery and development approach, and our commitment to clinical rigor, will enable us to solve critical challenges that today prevent women from receiving the best healthcare possible.”
– Bonnie Anderson, cofounder, chairwoman and chief executive officer of PinkDx
“Diagnosis of gynecological cancers has long been a challenge for women and their healthcare providers. We are thrilled to partner with Bonnie and support her team’s rigorous science-based approach to assist physicians in giving women clear answers to important clinical questions.”
– Isaac Ro, partner at Catalio and founding Board member of PinkDx
“We are delighted to have Dr. Cowan join our team. With her extensive clinical and diagnostics experience, combined with her passion for leveraging new technology to improve the lives of women, she will be an incredible asset to our efforts.”
– PinkDx cofounder Bonnie Anderson
