Participated · Equity · Jun 2025

PreciseDx develops PreciseBreast, an AI-enabled diagnostic that uses the company’s OncoIntelligence platform to inform breast cancer care. PreciseBreast combines seven morphologic features and four clinical factors into a single OncoIntelligence Score (0–100) to stratify recurrence risk and support care planning within hours. The test has been clinically validated in more than 3,000 breast cancer cases to reliably separate patients into two cohorts based on six‑year recurrence risk. The company says the platform could extend to treatment guidance for other solid tumor types. PreciseDx announced an $11 million financing, bringing total funding to over $43 million, to support ongoing clinical data collection, commercial expansion and planning for a 2026 commercial launch. The company also announced two executive hires: Eric Converse as CEO and Ed Sitar as CFO; founder Carlos Cordon‑Cardo retains a financial interest. PreciseDx is an NYC-based innovator in oncology diagnostics that leverages artificial intelligence for morphology-driven disease analysis. Its platform combines AI with the patented Morphology Feature Array® (MFA) to generate actionable intelligence for decision-making across the cancer care continuum. The company's flagship offering is PreciseBreast™, a risk assessment intended to inform breast cancer care and screening decisions. PreciseDx plans to use new funding to expand commercialization of PreciseBreast™. Financially, PreciseDx recently closed a $20.7M Series B to support those commercialization efforts. The company has completed analytical and clinical validation studies, received CLIA Standard approval and CLEP NYSDOH review for PreciseBreast™, and had a Cost Impact Study published in the Journal of Medical Economics. PreciseDx has added collaborations with UCLA, COTA, Baptist Health South Florida, and Baylor Scott & White Health.

Participated · Equity · Feb 2024

Freenome develops blood-based screening tests for early cancer detection using a multiomics platform that combines computational biology, machine learning, and other technologies. Its initial programs focus on colorectal and lung cancers, with single-cancer and tailored multi-cancer tests under development. The platform is also being evaluated with biopharma and diagnostic partners to non-invasively detect minimal residual disease (MRD) augmented by biological insights. The company has registrational studies underway, including PREEMPT CRC (>40,000 participants) and PROACT LUNG (up to 20,000 participants), plus multi-cancer research programs such as the Vallania Study (more than 6,200 participants) and additional studies totaling >10,000 paired RWD participants. Freenome intends to use the newly raised funds to advance its pipeline of single-cancer and multi-cancer early detection tests. The company is led by CEO Mike Nolan and is based in San Francisco, CA. Freenome develops a multiomics platform that uses routine blood draws to detect cancer in its earliest stages. Its core product is a blood test for colorectal cancer (CRC) being validated in the large prospective registrational study PREEMPT CRC, which is nearing completion of enrollment. The company plans to commercialize the CRC screening test and expand the platform to detect other cancers, and has reported promising data in pancreatic cancer detection. Freenome combines molecular biology, computational biology, and machine learning to identify disease-associated patterns among circulating cell-free biomarkers. Financially, Freenome announced a $300M Series D and has raised over $800M in total financing since its 2014 founding. The new funding is intended to support commercialization and further development of multi-cancer tests. Freenome has developed a comprehensive multiomics platform to detect cancer early from a routine blood draw, beginning with a colorectal cancer screening test. The platform integrates genomics, transcriptomics, methylomics, and proteomics with advanced computational biology and machine learning to recognize disease-associated patterns among circulating cell-free biomarkers. Freenome launched the PREEMPT CRC FDA registrational clinical trial in May 2020 to support approval of its first front-line blood test for colorectal cancer screening and precancerous lesion detection. The company intends to use proceeds from the financing to accelerate PREEMPT CRC toward approval, reimbursement, and commercialization, advance a pipeline of blood tests for additional cancers, and continue building its proprietary multiomics platform. Financially, Freenome closed an oversubscribed $270 million Series C that brings total financing to over $500 million since the company’s launch. The company is headquartered in South San Francisco, California. Freenome has built a multiomics platform that integrates assays for cell-free DNA, methylation, and proteins with computational biology and machine learning to detect early signs of cancer from a routine blood draw. The company’s first test targets colorectal cancer and uses a multidimensional view of tumor- and immune-derived signatures to improve sensitivity and specificity. Freenome reported promising clinical results at Digestive Disease Week showing high sensitivity and specificity in a cohort of mostly early-stage colorectal cancer patients. The company plans a pivotal validation study and intends to submit to the FDA and CMS under the Parallel Review Program for its colorectal cancer screening application. Proceeds from its recent financing will also fund expansion of laboratory infrastructure and software to support growth and future development. Freenome is headquartered in South San Francisco and was founded in 2014. Freenome is a health-technology company combining machine learning, biology and computer science to develop non-invasive disease screening assays based on cell-free DNA and other analytes. The company has collaborated with more than 25 research partners, including UCSD Moores Cancer Center, UCSF and MGH, and has processed thousands of samples through research and clinical trials. Freenome is working with five pharmaceutical companies to validate its software for clinical trial stratification and precision prescribing. The company is focused on scaling its technology and improving screening accuracy for lung, colorectal, breast and prostate cancers, with plans to address additional cancers and diseases. Proceeds from the Series A financing are being used to accelerate clinical trials, expand research, and advance its first products toward regulatory review. Headquartered in South San Francisco and launched in 2014, Freenome has raised more than $70 million since founding.

Led · Series B · Nov 2023

Universal DX develops next-generation diagnostics that combine AI, machine learning and molecular analysis with liquid biopsy to identify DNA patterns for early cancer detection. The company claims significantly higher sensitivity for detecting early-stage colorectal cancer and precancerous lesions versus traditional methods. Universal DX primarily serves laboratories and diagnostic operators in the US. It is finalising commercial approval for its colorectal cancer detection test and is developing comparable tests for lung, liver, pancreatic and oesophageal cancers. The recent financing round totals €62 million, with SETT contributing €29.9 million from its Next Tech facility backed by EU Next Generation funds. The funding is directed at advancing its AI-powered tests toward commercialisation and expanding its pipeline of cancer diagnostics.

Participated · Equity · Jun 2018

Clinical Genomics commercializes Colvera™, a liquid‑biopsy blood test that detects circulating tumor DNA to identify residual disease and recurrence in colorectal cancer (CRC) patients. The company also offers InSure® FIT and the FDA‑cleared InSure® ONE™ in collaboration with Quest Diagnostics. Colvera was developed with CSIRO and Flinders University and is offered as a CLIA‑developed lab service from Clinical Genomics’ CAP‑accredited Bridgewater, NJ laboratory, licensed to provide testing in 48 US states. Clinical Genomics says Colvera can detect more than twice as many recurrent cancers as carcinoembryonic antigen (CEA) and may enable earlier detection of recurrence. Proceeds from the recent financing will be used to commercialize Colvera for earlier detection of recurrent CRC and to advance its use for CRC screening. The company intends to combine profits from InSure ONE with the new capital to build on its position in the estimated $1 billion CRC monitoring market and the $10 billion blood‑based CRC screening market. Financially, Clinical Genomics completed a $26 million financing and had raised $48 million over the prior two years. Clinical Genomics is a developer of colorectal cancer diagnostics focused on a specific blood test based on methylated DNA from two genes, BCAT1 and IKZF1. The company plans to offer this 2-gene test for post-surgical recurrence monitoring in the U.S. beginning later in 2016 and will use recent financing to advance its commercialization. Clinical Genomics also markets the patient-preferred InSure® FIT™ fecal immunochemical test via its wholly-owned subsidiary Enterix Inc.; InSure is sold in Australia and other countries as ColoVantage Home. The company holds a broad intellectual property portfolio with more than 20 issued and pending patents related to its assays. Clinical Genomics has offices and laboratories in Bridgewater and Edison, New Jersey, and Sydney, Australia, and operates as an FDA-registered and TGA-licensed manufacturer with a NATA-accredited laboratory. The company is led by President and CEO Dr. Lawrence LaPointe.