The firm presented initial study results from the test, which identifies six cancers, showing overall sensitivity at 86 percent and specificity of 95 percent.
The "EV Click Chip" process involves collecting and purifying extracellular vesicles from a blood sample before performing RT-ddPCR to identify up to 10 early-stage HCC biomarkers.
The company believes the pandemic will accelerate the adoption of its cancer diagnostics as patients and doctors look for faster and more convenient tests.
The team will use the five-year funding to develop a liquid biopsy-based assay to select and prioritize liver cancer patients who need a liver transplant.
The company announced during its Q4 earnings call that it had acquired Paradigm Diagnostics and Viomics to fill out its expertise in cancer diagnostics.
The company released data showing that its panel detects early-stage liver cancer with 71 percent sensitivity compared to 25 percent for the standard test.
