There’s a new player in precision medicine. InnoSIGN said it has raised $8 million in a series financing to help complete its spinout from Philips.

The standalone company said its investors in the round included Casdin Capital, Life Science Angels, Thuja Capital and Brabant Development Agency. Philips owns a minority stake in the new company.

InnoSIGN was formed around the OncoSIGNal pathway activity profiling technology. The spinout said the OncoSIGNal technology is mRNA-based tests that measure the activity of signal transduction pathways in cancer and immune cells to predict how patients will respond to targeted drugs.

The OncoSIGNal qPCR 7 pathway test is available for Research-Use-Only, enabling research labs to run the test on conventional PCR machines in combination with the OncoSIGNal cloud-based data analysis software. InnoSIGN said the financing will help it complete further clinical validation studies and launch in the US market.

 “This funding round will enable us to demonstrate the added value of OncoSIGNal compared to standard technologies for the better understanding of cell behavior, which is highly relevant to physicians when selecting the optimal personalized therapy for cancer patients.”

InnoSIGN’s announcement follows tightly behind Becton Dickinson & Co. reaffirming the April 1 launch of Embecta, its diabetes spinoff. It also follows, Zimvie, Zimmer Biomet’s dental and spine units, launching and becoming a standalone company.