Inivata raises £40M to fund U.S. lung cancer blood test rollout

red blood cells
Inivata recently received a Medicare coverage determination for its InVisionFirst diagnostic, to examine multiple genetic mutations in patients with advanced non-small cell lung cancer. (Pixabay)

Liquid biopsy developer Inivata has secured a total of £39.8 million, or about $52.6 million, to help commercialize its DNA sequencing test through an extended series B round.

First closed in August 2018, the overall round saw funding from the company’s returning backers—including Johnson & Johnson Innovation, Cambridge Innovation Capital, IP Group, and Woodford Patient Capital Trust—plus its new investor, RT Ventures.

Based in Cambridge, U.K., and Research Triangle Park, North Carolina, Inivata plans to use the proceeds to support the U.S. rollout of its InVisionFirst molecular diagnostic, which recently received a Medicare coverage determination to examine genetic mutations in patients with advanced non-small cell lung cancer.


Like this story? Subscribe to FierceBiotech!

Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. Sign up today to get biotech news and updates delivered to your inbox and read on the go.

The financing will also help the company develop its InVision liquid biopsy platform in new indications, the company said.

RELATED: Genomics England taps Inivata for liquid biopsy pilot study

“Inivata has made great progress since our first investment when it was spun out of Cancer Research UK’s laboratories in Cambridge,” Cambridge Innovation Capital Investment Director Michael Anstey, Ph.D., said in a statement. “We are delighted to have helped Inivata develop from a startup through to commercializing its products.”

Inivata previously raised £31.5 million, or about $45 million, in its 2016 series A round. Its circulating tumor DNA test looks for cancer-related mutations in the blood, to assist physicians in assigning a specific therapy and monitor treatment progress.

Suggested Articles

Janssen is planning its first completely virtual clinical trial, using personal smartphones and wearable devices with no in-person site visits.

Sensyne Health aims to bring its AI tools to America, and it’s enlisting IT giant Cognizant and data infrastructure specialist Agorai to help.

Californian RNA biotech Arrowhead will lose its COO and R&D head from next year but is hiring a new CMO and CSO to help steady its research exec team.