Circular Genomics Raises $8.3 Million for Debut of Circular RNA Assay in Precision Psychiatry
24 Jan 2024
Clinical Study
ALBUQUERQUE, N.M., Jan. 24, 2024 /PRNewswire/ -- Circular Genomics, the global leader in advancing circular RNA biomarkers for precision psychiatry and neurology, today announced the closing of an $8.3 Million Series A investment round. Led by Mountain Group Partners, this round also welcomes new investor UNM Rainforest Innovations in addition to initial investors, including Cottonwood Technology Fund, Tramway Venture Partners, and other undisclosed individuals.
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The new funding will enable Circular Genomics to build and scale commercial operations in preparation for the launch of the world's first circular RNA-based clinical assay. This groundbreaking test is poised to improve the standard of care in depression treatment by informing clinicians of a patient's likelihood to respond to antidepressant medications. It addresses a critical need in the healthcare system, streamlining patient care and bringing renewed hope to the millions of patients grappling with high failure rates of first-line treatments and lengthy periods of trial-and-error to find the right therapy.
Circular Genomics is at the forefront of introducing precision medicine into mental health care
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"Precision psychiatry, driven by circular RNA biomarkers, equips physicians with a biomarker-based approach towards personalized care for patients fighting major depression," said Dr. Paul Sargeant, CEO, Circular Genomics. "We plan to launch our first test in 2024, which will predict response to SSRI antidepressants, addressing the issue of high therapy failure rates, and low clinical outcomes. Furthermore, the launch of this first assay paves the way for a set of tests covering the complete patient care continuum in major depression, and using the same circular RNA platform, in other neurological diseases too."
"We are excited to support Circular Genomics in advancing the development of the circular RNA biomarker platform," said Joe Cook, III, Managing Partner of Mountain Group Partners. "The expansion of this platform holds the potential to dramatically improve patient outcomes and broaden our understanding of psychiatric and neurological conditions."
Circular Genomics is at the forefront of introducing precision medicine into mental health care, promising a future where treatments are tailored to individual patients, improving outcomes, and providing deeper understanding of these complex conditions.
Discover more about Circular Genomics and its pioneering technology at https://circulargenomics.com.
About Circular Genomics
Circular Genomics is the world-leading developer of circular RNA-based precision medicine tools, data and diagnostics for psychiatry and neurology. Leveraging exclusive licenses and pioneering technologies in circular RNA, we are reshaping the standard of care for major depressive disorder and other neurological diseases. Initial products include assays to assess and tailor optimal treatment protocols for individual patients, validating treatment effectiveness within days to weeks rather than months. For additional details, please visit www.circulargenomics.com.
About Mountain Group Partners
Mountain Group Partners is a Nashville-based venture capital firm that invests in early-stage companies, predominantly in the life science and disruptive technology sectors. The firm brings over 70 years of combined operational experience and has made investments in more than 75 companies. Mountain Group takes a hands-on approach to investing based on its deep operational experience and currently has over $300 million in assets under management. For more information on Mountain Group Partners, visit www.mtngp.com.
CONTACT: Paul Sargeant, press@circulargenomics.com
SOURCE Circular Genomics
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