Cancer diagnostics company Biofidelity Ltd. reported a $23 million series A+ investment round, led by Octopus Ventures with participation from SBI Investment Co. Ltd. and existing investors. Funds will be used for the commercial launch of the company’s first commercial assay Asypre-Lung. The oncology panel is designed to detect DNA mutations from tissue or liquid biopsy quicker than current approaches like gene sequencing.
LONDON – Biofidelity Ltd. has raised US$12 million in a series A, enabling it to start commercialization of a novel, low-cost, chemistry-based diagnostic for detecting all actionable lung cancer mutations. The Cambridge, U.K.-based company claims the test can detect a single molecule of mutated DNA against the background of billions of healthy molecules in a patient sample, without the need for DNA sequencing.