CINCINNATI, March 25, 2011 /PRNewswire/ — AssureRx
Health, Inc. today announced the closing of an $11 million
Series B financing. The personalized medicine company, which
provides clinically-relevant information to help physicians select
the right drug and the right dose for individual neuropsychiatric
patients, will use the funds to expand direct sales and marketing
for its first product, GeneSightRx®,
and for second generation product development activities.
The financing was led by Claremont Creek Ventures and Sequoia
Capital and included participation of existing investors Cincinnati
Children’s Hospital Medical Center, Mayo Clinic and CincyTech, as
well as new investor Allos Ventures. John Steuart and Dr. Brad Webb
of Claremont Creek Ventures have joined the AssureRx board of
directors, increasing board membership to seven.
“Our goal is to build the leading medical informatics company
providing pharmacogenetic and other treatment decision support
products to help physicians individualize the treatment of patients
with neuropsychiatric and other disorders,” said James S.
Burns, president and CEO of AssureRx. “Claremont Creek and
Sequoia bring to AssureRx a wealth of experience and capabilities
in informatics, life science, internet marketing, and international
business development. Their investment brings substantial strength
to our medical informatics platform.”
Steuart, managing director of Claremont Creek said, “Venture
capital firms such as ours see the opportunity for disruptive
change springing from new discoveries in human genetics.
AssureRx has enormous potential as an early leader in the
transformation of neuropsychiatric treatment toward individualized
patient treatment. GeneSightRx and future treatment decision
support products hold the promise for faster, better patient
outcomes and less costly care for