4 years ago

Biofidelity Raises $23 Million to Expand Cancer Diagnostics Platform

  • Biofidelity, a Cambridge, UK-based cancer diagnostics company, has secured $23 million in Series A+ funding

  • Led by Octopus Ventures and backed by SBI Investment Co

  • Ltd., this investment will fuel the expansion of Biofidelity's development efforts and the launch of ASPYRE-Lung, their first commercial diagnostic assay

  • Biofidelity's ASPYRE technology simplifies and accelerates the detection of genomic biomarkers, making it accessible to a wider patient population

  • This innovative technology utilizes existing PCR machines, similar to those used for COVID-19 testing, making comprehensive genomic biomarker analysis readily available

  • The information generated through ASPYRE will empower physicians to identify patients who may benefit from targeted precision cancer therapies, leading to better outcomes for patients, including improved survival and fewer side effects

  • While the company's initial focus is on non-small cell lung cancer (NSCLC), they intend to expand their reach across the $15 billion cancer testing market.

      • ProblemHealthcare

      "Access to early cancer detection, precision diagnosis, and routine monitoring is limited, leading to delayed treatment and worse outcomes for patients."

      Solution

      "ASPYRE is a molecular diagnostic technology that simplifies and accelerates the detection of genomic biomarkers, making comprehensive genomic biomarker analysis accessible to more patients. It runs on existing PCR machines, making it widely available."

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