Biofidelity is a commercial-stage genomic technology company based in Cambridge, UK and Morrisville, NC. The company develops diagnostic tests, including ASPYRE®-Lung, which simplifies and accelerates detection of biomarkers for non-small cell lung cancer (NSCLC). ASPYRE®-Lung is designed to deliver results in days instead of weeks and at a fraction of the cost of current sequencing tests. The company plans to use recent funding to accelerate commercial and clinical expansion in the United States to speed adoption of ASPYRE®-Lung. Additional uses of proceeds include establishing a dedicated manufacturing facility in the United Kingdom and driving pipeline expansion across Biofidelity's technology platforms. Biofidelity is led by CEO Dr. Barnaby Balmforth and is positioned as a commercial-stage player in the precision oncology diagnostics market. The company raised $24M in its most recent funding round. Biofidelity develops ASPYRE, a novel molecular diagnostic technology designed to simplify and accelerate detection of genomic biomarkers and run on existing PCR machines. The platform aims to increase access to early detection, precision diagnosis and routine monitoring, helping physicians identify patients who may benefit from targeted cancer therapies. The company’s initial commercial focus is ASPYRE‑Lung for non‑small cell lung cancer (NSCLC), with plans to expand application across the broader $15 billion cancer testing market. Biofidelity positions ASPYRE as a route to make comprehensive genomic biomarker analysis accessible to many more patients worldwide by leveraging common laboratory equipment. The company is led by CEO Dr. Barnaby Balmforth. It recently strengthened its financial position through new funding to support development and commercial launch activities. Biofidelity develops a disruptive cancer diagnostic platform that delivers ultra-sensitive detection of guideline-recommended genetic markers while simplifying workflows and using standard laboratory instrumentation. The company reports its assays match the sensitivity of specialized NGS with error correction and demonstrated a 50× improvement over current FDA-approved PCR diagnostics while reducing workflows from more than 100 steps to four. Biofidelity says its approach can expand access to precision genetic testing—estimating 95% of cancer patients are currently excluded from NGS due to cost, complexity, and slow turnaround. It is initially focusing on non-small cell lung cancer and colorectal cancer, with potential applications across a broad range of cancers and for detecting resistance to therapy and disease recurrence. Founded in 2019 and based in Cambridge, UK, the company completed a $12m Series A in August 2020 to accelerate development and clinical validation and to commercialize its oncology panels. Plans for go-to-market include direct sales, partnering and collaborations to rapidly deploy assays.

Total raised

$59M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2024