Veracyte develops genomic diagnostic tests, including the Afirma Thyroid FNA Analysis and a cytopathology assessment and gene-expression test aimed at determining whether thyroid nodules are cancerous. The company is also advancing the Percepta Bronchial Genomic Classifier, a test that examines 23 genes in respiratory tract cells to help diagnose lung cancer. Veracyte went public a few years ago and is using new financing to further grow its molecular diagnostics business. The company announced a $45 million financing from Visium Healthcare Partners, part of which will be used to pay down debt. Product and clinical development remain central to its strategy, with Percepta cited as the next focus. Operational metrics such as revenue or user counts were not disclosed in the article. Veracyte develops molecular diagnostic solutions aimed at improving early-stage treatment decisions and helping patients avoid unnecessary invasive procedures. Its first product, the Afirma Thyroid FNA Analysis, launched in 2011 and combines specialized cytopathology assessment with the Afirma Gene Expression Classifier to clarify inconclusive thyroid nodule results as benign or suspicious for cancer. The company has a global co-promotion agreement with Genzyme (a Sanofi company) to broaden Afirma's availability. Led by co-founder and CEO Bonnie Anderson, Veracyte plans to use newly raised funds to expand commercial efforts for Afirma and to invest in its product pipeline. The financing strengthens the company's position as it commercializes its molecular cytology offerings from its South San Francisco base. Veracyte develops and commercializes molecular cytology tests aimed at improving early and accurate diagnosis of cancer. Its lead product is an advanced thyroid cancer testing service designed to classify indeterminate thyroid nodules as benign or suspicious for malignancy, reducing unnecessary benign surgeries. That thyroid test is being validated at more than thirty community sites and about a dozen academic medical centers across the United States. The company also has a pipeline including advanced molecular testing for thyroid and lung cancer, with the lung program in early-stage biomarker discovery. Management planned to bring the thyroid test to market by the end of the year. Veracyte completed a $28M Series B financing to support these efforts.

Total raised

$101M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2016