View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Comment
July 21, 2022

Cancer detection drives in vitro diagnostics venture financing deals

Cancer detection in relation to in vitro diagnostics has been driving venture capital deals since the beginning of 2022.

By GlobalData

Over $4.3bn has been raised in venture capital (VC) for in vitro diagnostics (IVD) since the start of 2022. GlobalData expects that IVD will continue to lead VC deals in 2022 after reaching $10.49bn and $8.63bn in 2021 and 2020, respectively. In 2021 alone, companies in the oncology IVD space raised $820m, much of which went to fund cancer screening tools. Other large markets that follow IVD are healthcare IT, specialised sectors like oncology and neurology medical equipment, and diagnostic imaging, which reached $1.54bn, $459m and $518m in VC financing in 2021, respectively.

This July, Delfi Diagnostics raised $225m in Series B financing after last January’s $100m for developing blood-based liquid biopsy tests. By analyzing cell-free DNA fragments from across the genome, the test detects multiple types of cancer simultaneously and monitors cancer treatment. Similarly, in June, Epic Sciences completed a $43m Series F financing round to expand the company’s multi-omic platform, which includes a multi-analyte assay to diagnose metastatic breast cancer by detecting cancer biomarker protein expression in circulating tumour cells and cancer gene amplification from the cancer cells in a patient’s blood sample. The growth in minimally invasive and high-performing oncology tests through VC will continue to drive scientific innovation in the IVD market for years to come.   

Therefore, based on recent VC deals in 2022 and historically leading medical devices in VC deals by value, IVD will continue this trend in the coming years.

Related Companies

Related Report
img
Medical
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network