Molecular technology company Scipher Medicine said on Thursday that it has completed its Series B financing led by Northpond Ventures, a global venture capital firm focused on life sciences and technology.

Additional investors participating in the round included Alumni Ventures Group and Tachyon Ventures, along with existing investors Khosla Ventures and Granpool Innovative Investments.

To date, the company has raised USD30m to fund development and commercialisation of its first drug response product, PrismRA, a molecular diagnostic test predicting response to the world's largest selling drug class, anti-tumor necrosis (anti-TNF) therapies, in rheumatoid arthritis patients.

Scipher Medicine announced positive results for PrismRA earlier this year, and with Series B funding the company has launched its prospective trial to confirm the clinical utility of the test.

According to the company, the technology will significantly improve outcomes for autoimmune disease patients by ensuring optimal therapy is prescribed from day one.