Inivata has raised a €46M (£40M) Series B round that will further advance the commercialization of the company’s blood test for lung cancer as well as the development of new tests.
Investors include Woodford patient Capital Trust, IP Group, Cambridge Innovation Capital, Johnson & Johnson Innovation and RT Ventures.
Based in both the US and the UK, Inivata is one of the growing numbers of companies in the field of liquid biopsy. This technology can detect cancer mutations from a drop of blood without the need for an invasive biopsy of the tumor.
Founded in 2014, Inivata has developed a liquid biopsy test for people with advanced non-small cell lung cancer. The diagnostic test provides information about specific cancer mutations in a patient’s tumor that provide insights into how well they are responding to treatment, predicting relapse, and finding the treatment that is most likely to work for a particular patient.
Inivata already sells this test in the US, where it is covered by the government’s Medicare scheme. The funds will help the company further expand the sales of the test, with the goal of eventually making it part of routine clinical care. Some of the funds will go towards the development of new tests for other types of cancer.
As this technology can make cancer diagnostics easier, faster and more affordable, many companies around the world are seeking to develop solutions for different forms of cancer. Some examples include the German company Epigenomics or the British ANGLE.