DALY CITY — PinkDx, Inc., an early-stage company focused on positively impacting the health of women, has launched with $40 million in Series A financing. The company will use the funds 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, positive impact on their lives. The company will use a broad and deep scientific approach to test development, focusing initially on gynecological cancers.
The financing was co-led by Catalio Capital Management, LP, and The Production Board. Other investors include Mountain Group Partners, Byers Capital and Mayo Clinic.
“We are honored that this discerning group of investors recognized the tremendous potential of both our approach and our team,” said Bonnie Anderson, cofounder, chairwoman and chief executive officer of PinkDx. “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.”
PinkDx will initially focus on improving the diagnostic outcomes for women who have vague symptoms that may signal a gynecological cancer. Each year in the United States, an estimated 1.5 million women present with general symptoms including bloating, pelvic pain and abnormal bleeding, for which the cause is not clear. Over 100,000 women in the U.S. are ultimately diagnosed with a gynecological cancer each year. PinkDx will develop solutions to replace invasive and painful diagnostic procedures and mitigate the significant delays women and their doctors often face in obtaining answers.
“Diagnosis of gynecological cancers has long been a challenge for women and their healthcare providers,” said Isaac Ro, partner at Catalio and founding Board member of PinkDx. “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.”
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, the global diagnostics company that Ms. Anderson cofounded. Veracyte’s pioneering Afirma® test was developed to reduce unnecessary, 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 announced 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. Prior to joining PinkDx, Dr. Cowan served as head of Medical Affairs for Mirvie and before that as medical director for Hologic’s Diagnostics division. She has 14 years of clinical experience in both 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.
“We are delighted to have Dr. Cowan join our team,” said Ms. Anderson. “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.”
