[Funding alert] UK-based Biofidelity Secures $24Million in Funding

The latest round of financing will accelerate the growth of the Company, including commercial and clinical expansion in the United States to accelerate the adoption of ASPYRE®-Lung.

A novel test that dramatically simplifies and accelerates the detection of biomarkers for non-small cell lung cancer (NSCLC), enabling clinicians to determine which treatment is best for each patient in days instead of weeks and at a fraction of the cost of current sequencing tests.

Read more - Berlin-based Tuktoro® by a2zebra Secures €500k in Funding

Additionally, the new investment will enable the establishment of a dedicated manufacturing facility in the United Kingdom and drive pipeline expansion efforts across the Company’s innovative technology platforms.

Biofidelity Co-Founder and CEO Dr. Barnaby Balmforth said, “This significant investment underlines the confidence of our investors in Biofidelity’s unique technologies and our mission to bring the benefits of precision medicine to all patients, It provides us with the capital needed to expand the adoption of ASPYRE-Lung, a completely new category of molecular diagnostic that fulfills an acute unmet clinical need for people with lung cancer and the clinicians who treat them.”

The new funding round includes fresh commitments from current investors including Agilent Technologies, Octopus Ventures, BlueYard Capital, and Longwall Ventures. Since Biofidelity’s oversubscribed Series A+ investment raise in early 2022, the Company has achieved significant milestones including:

Launch of two commercial products

Significant scientific traction through the publication of 12 white papers and clinical data sets with leading cancer centers using ASPYRE-Lung

Pilot and/or commercial programs initiated at 15 leading cancer centers, laboratories and pharma in the US driving the commercial adoption of ASPYRE-Lung. More than doubled the global team of world class talent.

Tad Weems, managing director of the Early Stage Partnership program at Agilent Technologies said, "Biofidelity's technologies are positioned to address critical gaps in genomic testing and research, We are thrilled to continue our partnership with Biofidelity as the team embarks on the next phase of their growth and commercial expansion."

About Biofidelity

Biofidelity, uk startup is a rapidly growing commercial-stage genomic technology company dedicated to improving and extending the lives of patients with cancer by enabling better targeting of therapies, early detection of treatment resistance and routine monitoring of treatment response.