Adaptive Biotechnologies raises $195M series F

Adaptive Biotechnologies Corp. (Seattle, Wash.) raised $195 million in a series F round, the third largest disclosed venture round for a biotech this year. Matrix Capital Management led Adaptive's round; other new investors Senator Investment Group, Tiger Management, Rock Springs Capital and an undisclosed investor participated, as did existing investors Viking Global, Casdin Capital and Alexandria Real Estate Equities.

Adaptive uses high throughput sequencing and bioinformatics technologies to profile T and B cell receptors. In addition to using the F round proceeds to develop clinical and research-only diagnostics, the company also plans to use apply its immunosequencing technology for target discovery. ...