Biofidelity raises £9.2m for cancer detection tech

Biofidelity has raised a £9.2 million in a Series A round led by BlueYard Capital and backed by investors including Longwall Ventures and Agilent Technologies.

The Cambridge-based HealthTech firm aims to simplify genetic testing using next generation sequencing (NGS). It estimates that 95 per cent of cancer patients are currently excluded from NGS due to high cost, complexity and slow turnaround times.

Biofidelity provides clinically actionable data based on ultra-sensitive detection of the markers recommended in cancer treatment guidelines, helping oncologists prescribe the right cancer drug at the right time.

The company is initially focusing on diagnosis of non-small cell lung cancer, with potential across a broad range of other cancers, as well as applications in the detection of resistance to therapy and disease recurrence.

The investment will be used to accelerate the development and clinical validation of oncology panels for treatment selection and patient monitoring in oncology.

Barnaby Balmforth, chief executive and co-founder of Biofidelity, said: “We are removing the barriers that prevent the vast majority of patients from having access to the high-quality information associated with existing DNA sequencing approaches."

Cameron Frayling, the other co-founder of Biofidelity, added: “With an initial focus on well-established, widely reimbursed markers used in targeted treatment of non-small cell lung cancer, Biofidelity has potential in a broad range of cancers and future applications in routine monitoring of patients for detection of resistance to therapy and disease recurrence.”

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