Delfi’s $225M Raise Accelerates Development of Cancer Detection Check-Up Test

Looking to finance a 15,000-person trial to accelerate market entry for a new blood test aiding early detection of lung as well as other cancers, life sciences heavyweight Delfi Diagnostics recently added $225 million to its investment purse. The Series B round, led by DFJ Growth with participation from Eli Lilly and Co., Point72, Brown Advisory, Point Field Partners, Initiate Ventures, Open Field Capital, and PTX Capital, also featured contributions from returning investors from the company’s $100 million raise last year, including Cowen Healthcare Investments, Foresite Capital, Menlo Ventures, OrbiMed, Samsara BioCapital, Rock Springs Capital, Northpond Ventures, AV8 Ventures, Illumina Ventures, Windham Venture Partners, and funds and accounts advised by T. Rowe Price.

The massive trial, dubbed CASCADE-LUNG, will accordingly produce an easily accessible blood test capable of spotting a variety of cancers. In lieu of an expensive biopsy performed after symptoms and/or a lump appear, said test would be administered during an individual’s annual check-up. A key component of Delfi’s quest is to mitigate the surging costs associated with modern cancer care. The American Cancer Society has cited prices for cancer testing ranging from $300 to over $10,000, and yearly totals for a single patient’s treatment often end up north of $100,000.

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“Cancer is a global public health problem, and addressing it requires a solution that is accessible around the world,” said Delfi Chief Executive Officer and Co-Founder Dr. Victor Velculescu. “We believe our approach is uniquely capable of delivering high-performing, cost-effective, and clinically relevant tests for multiple applications to meet the needs of patients and providers everywhere.” He has grown his company from a 20-person operation into a 150-employee global health research powerhouse, and its next-gen diagnostics offerings will surely transform the future of deadly disease treatment.