What You Should Know:
— UK-based Biofidelity raises $12 million in Series A funding to accelerate the launch of disruptive cancer diagnostic technology.
The company prepares to use the financing to accelerate the development and scientific validation of oncology panels for treatment selection and patient monitoring in oncology, and to bring these assays quickly to market through direct sale, partnering, and partnership.
Biofidelitys disruptive innovation combines fast, cost effective, simple to translate results, in order to drastically simplify genetic testing while offering all the essential benefits of next-generation sequencing (NGS). The Company approximates that 95% of cancer clients are currently excluded from NGS due to high expense, complexity, and slow turnaround times.
Biofidelity provides clinically actionable data based upon ultra-sensitive detection of the markers suggested in cancer treatment guidelines, making it possible for oncologists to recommend the ideal cancer drug at the correct time to a lot more patients. Straightforward adoption of existing facilities is expected to greatly increase the variety of laboratories able to offer exceptional cancer diagnostics.
— The financing will be utilized to bring innovation to market,
making it possible for a remarkable simplification of precision genetic testing to make sure many
more cancer patients get ideal diagnosis and treatment.
Biofidelity Ltd, a Cambridge,
UK-based cancer diagnostics company, today announced it has raised $12 million
in Series A funding led by BlueYard Capital and backed by experienced investors
consisting of Longwall Ventures and Agilent Technologies, a global leader in life
sciences and diagnostics.
In January, Biofidelity revealed the successful completion of a study to spot key lung cancer mutations in partnership with Agilent Technologies. The cooperation, utilizing an assay developed by Biofidelity, showed an improvement in sensitivity of 50 times that achieved with present FDA-approved PCR-based diagnostics.
< Founded in 2019, Biofidelity is initially concentrating on the diagnosis of non-small cell lung cancer, with potential throughout a broad variety of cancers as well as applications in the detection of resistance to treatment and disease recurrence.