Clinical cancer genomics company Inivata has raised $52.6m in a series B funding round to support the commercialisation of its InVisionFirst lung liquid biopsy test in the US.
The financing round was joined by Woodford Patient Capital Trust, IP Group, Cambridge Innovation Capital, Johnson & Johnson Innovation, JJDC and RT Ventures.
InVisionFirst-Lung is based on Inivata’s InVision platform, which is designed to explore genomic information using a blood test. It detects cancer mutations and delivers molecular insights that can be used by clinicians to make more informed decisions for the treatment of patients with non-small-cell lung cancer (NSCLC).
InVisionFirst-Lung secured coverage for US Medicare patients with advanced NSCLC, allowing its use in routine clinical care.
Apart from advancing release, the funds will be used to support the development of new InVision platform indications.
Inivata CEO Clive Morris said: “This series B financing allows us to commercialise our lead product in patients with advanced lung cancer, following our positive reimbursement decision.
“We also have an exciting portfolio of future products that will be advanced in parallel to maximise the benefits of our industry-leading InVision Liquid Biopsy platform to patients.”
Liquid biopsy involves the extraction of a blood sample from patients. The sample is then analysed for genetic markers associated with the presence of circulating tumour DNA (ctDNA).
Shed by tumours, ctDNA is known to comprise genetic information that could enable monitoring of treatment progress and identification of developing resistance.
Inivata partners with industry and academic researchers for creating new clinical applications for liquid biopsy and ctDNA analysis.