Diagnostics company Epic Sciences has received $24m in Series G financing to accelerate the commercialisation of the DefineMBC tests.
The funding will help commercialise DefineMBC’s three component tests, which combinedly offer a comprehensive blood-based biopsy result for metastatic breast cancer patients.
Deerfield Management and Arsenal Capital Partners co-led the investment round, while participants also include the company’s shareholders such as Blue Ox Healthcare Partners, Domain Ventures and Labcorp.
Epic Sciences president and CEO Lloyd Sanders said: “I’m excited to announce that Epic’s pre-launch activities related to DefineMBC have exceeded our expectations. We have delivered comprehensive test results to 700 patients and their oncologists in our Clinical Experience Program.
“We have surveyed the physicians participating in the Clinical Experience Program and their responses indicate that oncologists see the value in DefineMBC’s ability to provide actionable information that allows them to better care for their patients.”
The funding will help the continued expansion of the company’s new market-facing departments, including product marketing, sales, medical affairs, customer service, payer markets and billing.
A portion of the funding will also be used for the development of additional concordance and outcomes data for the DefineMBC tests.
The latest financing round comes after the company previously raised $43m in Series F financing.
DefineMBC will help detect circulating tumour cells and assess emergency room cellular protein expression.
It will also enable the analysis of a plasma-based, 56-gene panel of cell-free DNA, comprising PIK3CA and ERBB2.