Inivata, a Research Triangle Park, NC and Cambridge, UK-based leader in liquid biopsy, completed a Series B fundraising of $52.6m (£39.8m).
Existing investors Woodford Patient Capital Trust, IP Group, Cambridge Innovation Capital and Johnson & Johnson Innovation – JJDC all participated in the round alongside new investor RT Ventures.
The first close of the financing occurred in August 2018, with the final tranche of the over-subscribed round being received in March 2019, based on strong delivery against corporate milestones.
The funds will be used to advance the US commercial roll-out of the company’s InVisionFirst™-Lung liquid biopsy test, which recently received coverage determination for US Medicare patients with advanced non-small cell lung cancer (NSCLC). This liquid biopsy test uses a simple blood draw to detect clinically relevant cancer mutations to provide molecular insights relevant to that patient. InVisionFirst-Lung is commercially available in the US.
The Series B financing will also enable the company to accelerate the development of the InVision® liquid biopsy platform into new indications to drive the future growth of the Company.
Led by Clive Morris, Chief Executive Officer, Inivata has a CLIA laboratory in Research Triangle Park, NC and laboratories in Cambridge, UK.