Funding

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

Apr 4, 2024 | By Startup Rise EU

  • uk based a genomic technology startup 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 .
Biofidelity, a revolutionary genomic technology company dedicated to bringing the benefits of precision medicine to patients around the world, successfully completed a financing round totalling $24 million bringing total funding raised since the Company was founded in 2019 to $60 million.

Biofidelity, a revolutionary genomic technology company dedicated to bringing the benefits of precision medicine to patients around the world, successfully completed a financing round totalling $24 million bringing total funding raised since the Company was founded in 2019 to $60 million.

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:

RECOMMENDED FOR YOU

recomd
Funding
Swiipr funding news – Travel Paytech Company Swiipr Raises €7 Million in Series A Round Funding
Startup Rise EU
May 28, 2024
recomd
Funding
[Funding alert] Belfast-based Neurovalens Secures £2.1Million in Funding
Startup Rise EU
Apr 9, 2024
recomd
Funding
[Funding alert] Stockholm-based Younium Raises €2.7 Million in Funding
Startup Rise EU
Mar 15, 2024

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.

Recommended Stories for You

story
Funding

[Funding alert] London-based Cogna Secures £3.76Million in Funding

Startup Rise EU Mar 9, 2024

story
Funding

[Funding alert] Speedinvest Secures €350 Million in Funding

Startup Rise EU Jan 31, 2024

story
Denmark

Tech vendors Cookie Information and Digital Analytics Suite Vendor Piwik PRO are Merged

Startup Rise EU Nov 7, 2023

story
Funding

Fintech Startup Noggin HQ Secures £710K in Pre-Seed Round Funding – FUNDING NEWS

Startup Rise EU May 1, 2024

story
Funding

[Funding alert] Warsaw-based CTHINGS.CO Secures €4.5 million in Funding

Startup Rise EU Oct 24, 2023

story
Funding

[Funding alert] Munich-based Retorio Raises €9 Million Series A Round Funding

Startup Rise EU Nov 15, 2023