NEW YORK (GenomeWeb) – Strata Oncology said today that it has raised $12 million in a Series A financing to fuel its tumor sequencing operations.

The financing was co-led by Arboretum Ventures and Baird Capital, and included existing investor Michigan eLab. Ann Arbor, Michigan-based Strata said it will use the funds to implement the Strata Trial, a nationwide effort to increase the number of enrollments in precision medicine clinical trials.

In addition, the company said it has entered into a strategic partnership with Thermo Fisher Scientific, which will serve as Strata’s technology provider and contribute S5 XL NGS systems, AmpliSeq reagents, and Oncomine assays.

Financial and other terms of the agreement were not disclosed. Read more here…