Phase Genomics, a Seattle-based biotech company, secured $2.5M in funding from the National Cancer Institute and the Andy Hill Cancer Research Endowment (CARE) Fund of Washington state. The CARE Fund is providing $500,000, while the National Cancer Institute will provide the bulk of $2M.
The funding will be used to support Phase Genomics’ cancer research and discovery, including archival sample analysis and the impact of colorectal cancer on underserved communities in the Pacific Northwest.
“The new funding will help us deliver a rapid assay that combines the collective power of today’s common cytogenic solutions at a fraction of the cost and with added predictive power,” Phase Genomics founder and CEO Ivan Liachko said.