Function Oncology is a technology company.
Function Oncology has raised $28.0M across 1 funding round.
Function Oncology has raised $28.0M in total across 1 funding round.
Function Oncology has raised $28.0M in total across 1 funding round.
Function Oncology's investors include Andreessen Horowitz, Section 32, SR One.
Function Oncology is a San Diego-based precision medicine company developing a CRISPR-powered personalized functional genomics platform to transform targeted cancer treatment.[1][2][3] The platform moves beyond traditional gene sequencing by directly measuring gene function in patient clinical samples, enabling patient-specific profiling of tumors to uncover drug target dependencies and optimal therapeutic opportunities.[1][2][3] It serves cancer patients, particularly those with solid tumors and acute myeloid leukemia (AML), solving the problem of limited effectiveness of sequencing-based diagnostics that leave most patients without viable options.[2][3]
Launched in 2023 with $28 million in Series A funding led by Andreessen Horowitz (a16z) and Section 32, with participation from Casdin Capital and Alexandria Venture Investments (ARE), the company has shown early growth through partnerships like its 2025 collaboration with Volastra Therapeutics to enhance patient selection for KIF18A inhibitors using predictive biomarkers.[1][2][4] This positions Function Oncology at the intersection of genomics and oncology, with demonstrated clinical validation in AML presented at the 2023 AACR meeting.[3]
Function Oncology was founded in 2019 by Srinath Sampath, M.D., Ph.D., M.Phil. (Co-founder and CEO), Srihari Sampath, M.D., Ph.D., M.Phil. (Co-founder and Chief Scientific Officer), and Christian Schmedt, Ph.D. (Co-founder and Chief Technology Officer), all expert scientists in cancer diagnostics, drug development, and genomics.[1][2][4] The idea emerged from the limitations of conventional next-generation sequencing, which Srinath Sampath noted only benefits a small subset of patients, prompting a shift to functional genomics using CRISPR to profile gene function directly in patient samples.[2][3]
The company launched publicly in April 2023 with $28 million in Series A financing, coinciding with clinical validation data presented at the AACR annual meeting for AML patients, marking early traction.[2][3][4] Backed by prominent investors like a16z and Section 32 (with board observer Mike Pellini, former CEO of Foundation Medicine), this funding fueled platform development and leadership hires, including Yali Li, Ph.D. (Chief Data Officer) and Ryan Pinto, Ph.D., MBA (VP of Business Development).[2]
Function Oncology stands out in precision oncology through these key strengths:
Function Oncology rides the wave of functional genomics in precision medicine, where CRISPR tools shift from genomic snapshots to dynamic gene function analysis amid rising demand for personalized cancer therapies.[1][2][3] Timing is ideal post-2023 launch, as oncology trials increasingly prioritize biomarkers—its Volastra partnership exemplifies this, targeting chromosomal instability (CIN) in solid tumors to improve patient selection and outcomes.[1]
Market forces like surging CRISPR adoption (post-FDA approvals) and investor interest in biotech (e.g., a16z's bio fund) favor it, addressing the 80-90% failure rate of sequencing-guided treatments.[2][3] The company influences the ecosystem by powering pharma collaborations, validating new targets, and advancing "next-generation precision oncology," potentially reshaping trial design and drug development for rare and hard-to-treat cancers.[1][3]
Function Oncology is poised to scale its platform through more pharma partnerships, leveraging CRISPR's maturation to deliver first-in-class functional profiles for broader solid tumor applications.[1][2] Trends like AI-integrated genomics and multi-omics will amplify its edge, while regulatory tailwinds for personalized meds could fast-track validations beyond AML.[3]
Expect expanded funding rounds and clinical data readouts by 2026, evolving its role from enabler to leader in functional precision oncology—ultimately transforming how we match patients to therapies, building on its CRISPR foundation to impact lives where sequencing falls short.[1][2]
Function Oncology has raised $28.0M across 1 funding round. Most recently, it raised $28.0M Series A in April 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2023 | $28.0M Series A | Andreessen Horowitz, Section 32, SR One |