PinkDX launches with $40m funding to develop diagnostics for gynaecological cancers

The Series A funding was led by Catalio Capital Management, LP, and The Production Board

PinkDx Inc, an early-stage company focused on positively impacting the health of women throughout their life journey launched on Thursday (25 April) with $40 million in Series A financing.

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.  

A focus on gynaecological cancers

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 gynaecological 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.

"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."

An experienced team

California-based PinkDx is led by an experienced team of diagnostics industry pioneers, executives and investors.

PinkDx cofounders Bonnie Anderson and Giulia C. Kennedy, Ph.D., the company's chief scientific officer, used a similar approach of applying cutting-edge science to a clinical problem at Veracyte, the global diagnostics company that 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.