NEW YORK – Epic Sciences announced on Wednesday that it raised $43 million in a Series F financing round led by Arsenal Capital Partners.
Other investors included Blue Ox Healthcare Partners, Deerfield Management, and Labcorp.
Epic plans to use the funds raised to further develop its DefineMBC multiomic metastatic breast cancer liquid biopsy assay and to expand in areas such as single-cell sequencing and data analytics infrastructure.
DefineMBC is a lab-developed test that combines analyses of circulating tumor cells, single-cell whole-genome sequencing, and cell-free DNA sequencing into a single assay. It is used to comprehensively profile metastatic breast cancer when a tissue biopsy is unavailable.
Epic also appointed James Rothman, chair of Arsenal's Healthcare Advisory Board, and Richard Eglen, a senior adviser to Arsenal, to its board of directors.
"We are continuing to innovate testing for both the research and clinical markets," Lloyd Sanders, Epic's president and CEO, said in a statement. "Our biopharma partners are driving our presence into drug development efforts and an increasing number of clinical trials, while we continue to see growing excitement from practicing clinical oncologists for DefineMBC and future tests."