Castle Biosciences, Inc., a Friendswood, TX-based molecular diagnostics company, closed the first tranche of a $20m Series F financing, raising $11.7m.
The round was led by Industry Ventures.
The company, which anticipated completing the Series F round by the end of the third quarter, intends to use the funds to accelerate the growth in clinical adoption of its gene test for identifying metastatic risk in early stage cutaneous melanoma, DecisionDx-Melanoma, and its other tests designed to improve cancer care.
Led by Derek Maetzold, President and CEO, Castle Biosciences provides molecular diagnostics to improve cancer treatment decisions. The company currently offers tests for patients with uveal melanoma (DecisionDx-UM), cutaneous melanoma (DecisionDx-Melanoma), esophageal cancer (DecisionDx-EC), and mesothelioma (DecisionDx-Mesothelioma) among others.
It has laboratory operations in Phoenix, AZ.