France-based precision oncology diagnostics technology developer HalioDx closed a €18.5m ($22.3m) series B round yesterday featuring Sham Innovation Santé, a fund formed by health insurance provider Sham.
The round included healthcare investment holding company MI Care, Amundi Private Equity Funds and Quest for Growth as well as Sofipaca and BNP Paribas Development, respective subsidiaries of financial services firms Credit Agricole and BNP Paribas, and state-owned investment bank Bpifrance’s PSIM fund.
Founded in 2014, HalioDx is developing diagnostic tests for tumours in cancer patients. Its approach uses advanced imaging analysis to track the reaction of the immune system around a tumour, through white blood cells known as lymphocytes, to assess its severity.
The cash will be used to expedite development of a colon cancer assay called Immunoscore and a test designed for additional cancer types, as HalioDx begins establishing commercial activities in the US.
HalioDx previously received $9.2m in series A funding from undisclosed backers in 2015, though the company named MI Care, Sham Innovation Santé, BNP Paribas Development and Sofipaca as existing investors in the series B round.
Vincent Fert, HalioDx’s chief executive, said: “We are conducting an ambitious plan to develop our unique portfolio of diagnostic solutions to contribute to precision medicine.
“I am looking forward to see Immunoscore development in oncologists’ routine practice to manage prescriptions across multiple cancer indications.”