Fenwick & West represented Merck Global Health Innovation Fund (Merck GHI), the corporate investment arm of Merck & Co., Inc. and leader in digital health investing, in leading a $26 million Series B financing in Strata Oncology, Inc., a precision oncology platform company. Pfizer Ventures co-led the round. Deerfield Management and Renaissance Venture Capital Fund participated as new investors and were joined by existing investors Arboretum Ventures and Baird Capital.
Strata Oncology will use the new funding to expand the Strata Precision Oncology Network, further develop the company’s clinical-genomic data and software solutions, submit the company’s tumor molecular profiling assay for approval by the US Food and Drug Administration and launch the Pan-cancer molecular Analysis for cancer Therapy (PATH) study. More information regarding Merck’s leading a $26 million Series B financing in Strata Oncology can be obtained from the company press release.
The Fenwick transaction team was led by corporate lawyers Ian Goldstein and James Li.