Inivata, a UK-based developer of precision cancer diagnostics technology, agreed today to a $390m acquisition by one of its investors, cancer diagnostics service provider NeoGenomics.
Founded in 2014, Inivata has created a liquid biopsy platform that can extract genomic information from a simple blood draw. The technology facilitates personalised cancer treatment by monitoring response to therapy and detecting relapse.
The company’s lead product, InVisionFirst-Lung, is aimed at patients suffering from advanced non-small-cell lung carcinoma. It is commercially available internationally, including through NeoGenomics in the United States.
NeoGenomics supplied $25m for Inivata in May 2020 for the first tranche of its series C round, investing as part a strategic collaboration agreement that gave it a fixed price option to purchase the company.
Inivata closed the aforementioned series C round at $60m in February this year after Soleus Capital led a $35m extension that also attracted IP Group, Janus Henderson Investors and Farallon Capital.
The company had raised $52.2m in an early 2019 series B round featuring Johnson & Johnson Innovation – JJDC, a subsidiary of medical products group Johnson & Johnson, as well as IP Group, Cambridge Innovation Capital (CIC), Woodford Patient Capital Trust (WPCT) – now called Schroder UK Public Private Trust – and RT Ventures.
Johnson & Johnson Innovation – JJDC, CIC, Imperial Innovations (later rebranded to Touchstone Innovations and now owned by IP Group) and WPCT had backed a $45m series A round for Inivata in 2016, after the first three had provided $6m two years earlier.
The original version of this article appeared on our sister site, Global University Venturing.
