News > Three Tech Investors Award Polaris Genomics $2 million Seed Round Extension
1 November 2023
Veteran-owned biotech company is harnessing AI & genomics to transform mental health R&D
Gaithersburg, Md. (November 2023) – Known for advancements in genomics-based mental health diagnostics, Maryland-based biotechnology company Polaris Genomics continues to garner investments as it brings molecular diagnostics to mental health. The recent $2 million investment by Viking Global, Wavemaker 360, and TEDCO will be used toward expanding its platform to develop novel therapeutics and companion diagnostics for neuropsychiatric conditions.
“Thanks to these investments, we can continue to advance our novel technology to serve a broad range of mental health conditions and populations globally,” said Charles Cathlin, co-founder and CEO of Polaris Genomics. “We’re excited to bring molecular diagnostics to the field of mental health.”
Polaris Genomics brings together genomics and machine learning to give providers the tools for screening and diagnoses to match patients to effective treatments for neuropsychiatric conditions. Through this blend of technology and biology, the company seeks to decode the biological fingerprints of mental health conditions, allowing for diagnoses from clinical tests and reducing reliance on subjective questionnaires.
INVESTORS
Viking Global is a hedge fund based in Greenwich, Connecticut, which specializes in early-stage and late-stage ventures.
Based out of Pasadena California, Wavemaker Three-Sixty is a leading U.S. early-stage fund focused 100% on healthcare.
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through funding early-stage technology and life science-based companies in Maryland.