INDIANAPOLIS, Ind. and LOS ANGELES, Cal. - Strand Diagnostics, LLC, maker of the "know error" system, and NantWorks, LLC announced that they have entered into an agreement whereby Strand will receive up to $30 million in funding from NantWorks, LLC over the next 3 years. The money will be used to accelerate the company’s growth, scale its operations infrastructure, and expand sales and marketing efforts.
“This investment is a very important next step for the growth of our business,” said Strand Diagnostics President, Ken Cerney. “NantWorks and Dr. Soon-Shiong provide additional resources, experience, and relationships that will help to grow our platform more quickly.”
“The era of quantitative genomic medicine is upon us. Clinical decision support utilizing gene and bioinformatics will transform healthcare as we know it today. The Know Error founding team has laid the groundwork for an innovative system that improves patient safety and diagnostic accuracy,” said NantWorks Chairman and CEO, Dr. Patrick Soon-Shiong. “Their products fit directly into our vision of quantitative medicine and next-generation personalized medicine.”