Skip to main content
Premium Trial:

Request an Annual Quote

Biofidelity Raises $12M in Series A Funding Round

NEW YORK – Cambridge, UK-based cancer startup Biofidelity said on Thursday that it has raised $12 million in a Series A financing round.

The firm will use the funding to accelerate the development and clinical validation of oncology panels for treatment selection and patient monitoring, with an initial focus on non-small cell lung cancer.

The financing round was led by BlueYard Capital, with additional funding from investors including Longwall Ventures and Agilent Technologies.

Biofidelity is developing a pipeline of molecular, blood-based assays to help physicians quickly determine the best treatments for cancer patients and to monitor their progression. The firm's proprietary technology uses four sets of reagents to identify a targeted DNA sequence while removing background DNA in a liquid sample.

"Delivering on the promise of precision medicine to improve outcomes for cancer patients relies on clinicians being able to precisely identify actionable genetic markers," Biofidelity CEO Barnaby Balmforth said in a statement. "Our assays will enable [clinicians] to make the right decisions regarding treatment and to detect when a cancer has recurred or become resistant to therapy."

With the recent funding round, Biofidelity has raised a total of about $13.7 million in funding since it was cofounded in early 2019 by Balmforth and Cameron Frayling.

"With an initial focus on well-established, widely reimbursed markers used in targeted treatment of non-small cell lung cancer, Biofidelity has potential in a broad range of cancers and future applications in routine monitoring of patients for detection of resistance to therapy and disease recurrence," Frayling added.

The Scan

Genetic Ancestry of South America's Indigenous Mapuche Traced

Researchers in Current Biology analyzed genome-wide data from more than five dozen Mapuche individuals to better understand their genetic history.

Study Finds Variants Linked to Diverticular Disease, Presents Polygenic Score

A new study in Cell Genomics reports on more than 150 genetic variants associated with risk of diverticular disease.

Mild, Severe Psoriasis Marked by Different Molecular Features, Spatial Transcriptomic Analysis Finds

A spatial transcriptomics paper in Science Immunology finds differences in cell and signaling pathway activity between mild and severe psoriasis.

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.