Guardant Health, a four-year-old, Redwood City, Ca.-based biotech company that sells blood tests to track and potentially detect cancer, has raised a whopping $360 million from investors, creating its total funding to $550 million.SoftBank guided the round, with participation from Sequoia Capital, Khosla Ventures, Lightspeed Venture Partners, OrbiMed, 8VC, numerous funds and reports managed by T. Rowe Price, and Temasek, among others.
The company has immense ambitions to give doctors to read the integrity of a cancer with time two teaspoons of blood versus discovering part of the disease by taking a biopsy of it.
As CEO Helmy Eltoukhy explained to us last year, Theway it manipulates isas these tumors grow rapidly, “its also” expiring rapidly and sheddingtheir content into the bloodstream, including their Dna signature.[ Over era] weve stimulated our sequencing engineering about 1,000 to 10, 000 times more accurate in order to see those fragments of DNA. Its akin to thedifference between high-resolution Tv and old-time black-and-white technologies.Because we can see those vestige fragments, we are in a position reconstruct the genome.
Guardant adds it matches material biopsies with 99.3 percent diagnostic accuracy, and that it often detects more mutants than doctors could find otherwise.
The companys goal is tohelponemillion people over the next five years with its test.
Itll face some potent contender along the way. In March, Grail, a blood-test startup spun out of DNA sequencing beings Illumina last year, announced a $900 millionroundthat includes Bristol-Myers Squibb and Johnson& Johnson. Its too racing toward clinical visitations with its cancer-screening technology.
In March, Freenome, another liquid biopsy diagnosis platform that detects the cell-free DNA sequencing of cancer, alsoraised a huge round. The $65 million Series A financing was led by Andreessen Horowitz, which too guided the companys $5.5 million seed round less than a year ago.