NEW YORK – Israeli liquid biopsy startup Nucleix said on Wednesday that it has raised $55 million in an oversubscribed financing round.
The Rehovot-based firm will use the funds to continue development of its EpiCheck methylation platform and to develop its Lung EpiCheck assay for the early detection of lung cancer.
The round was led by RA Capital Management and included participation from new investors Blackrock, Lilly Asia Ventures, Lyfe Capital and MILFAM Investments. Existing investors OrbiMed, Aurum Ventures, DSC Investment, OCI Bio Investments, and Zohar Zisapel also participated in the round.
Nucleix's EpiCheck platform searches for specific methylation patterns on circulating tumor DNA in a patient's blood or urine sample. The firm will use the platform in combination with next-generation sequencing to identify new biomarkers that can be used for early detection and monitoring of different cancer types. The firm believes EpiCheck can also be used in tandem with PCR to run cost-effective analyses in both centralized and local labs.
Lung EpiCheck, Nucleix's early-stage lung cancer diagnostic, analyzes disease-specific changes in DNA methylation markers in blood samples from current and past smokers. The firm plans to launch a prospective study to validate Lung EpiCheck and anticipates offering the assay in 2022.
For an in-depth look on Nucleix's near-term plans, click here.