Cancer diagnostics service provider NeoGenomics invested $25m in UK-based liquid cancer biopsy developer Inivata yesterday through a strategic partnership deal.
Inivata is developing liquid biopsy tests under the InVision brand in order to diagnose cancer through the detection of genomic markers that are indicative of circulating tumour DNA.
The company’s flagship product, InVisionFirst-Lung, tests patients for advanced non-small cell lung cancer, a subtype responsible for an estimated 80% to 85% of all lung cancers. NeoGenomics will offer the product to its pathologist and oncologist clients through the deal.
The corporate will gain a seat on Inivata’s board of directors and will assist it with implementing additional partnerships in the biopharmaceutical sphere.
Inivata raised $6m in a 2014 seed round led by Imperial Innovations that included Johnson & Johnson Innovation – JJDC, the corporate venturing subsidiary of healthcare group Johnson & Johnson, as well as Cambridge Innovation Capital (CIC).
JJDC joined CIC, Imperial Innovations and Woodford Patient Capital Trust, now known as Schroder UK Public Private Trust, to provide $45m in series A funding for Inivata two years later.
The company subsequently completed a $52.2m series B round in March 2019 featuring JJDC, CIC, IP Group, Woodford and RT Ventures.
The original version of this article appeared on our sister site, Global University Venturing.