Home » C2i Genomics raises $100M in Funding led by Casdin Capital

C2i Genomics raises $100M in Funding led by Casdin Capital

by gtalknews
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C2i Genomics, a company that develops cancer diagnostics, announced on Thursday that it had raised $100 million in a funding session that was co-led by Casdin Capital and included NFX, Duquesne Family Office, Section 32, iGlobe Partners, Driehaus Capital, Silver Lake, Alexandria Real Estate, and current financiers The Mark Foundation for Cancer Research, Gordon Asset Management, and LionBird. Two $50 million tiers of a changeable note were used for the transaction.

According to the business, the funding will be used to hasten the clinical expansion and enhancement of its C2-Intelligence Platform, a cancer diagnostics system that uses whole-genome analysis and artificial intelligence trend acknowledgment to rapidly and accurately identify minimal residual disease in cancer victims.

C2i claimed that their cloud-based technology may deliver actionable insights into disease development in as little as one week and that doctors can use it to discover trace quantities of chronic or recurring cancer considerably earlier and at far lower levels than they could before. Additionally, the business asserts that its platform is up to 100 times more sensitive than those of its rivals.

The business obtained $12 million in a Series A round of funding in June of last year, which is intended to use to create and clinically test its tailored, real-time platform for tracking resurgence and medication efficacy for different kinds of solid tumors. At the time, it was known as MRDetect. The firm, which is only licensing the technology from the two institutes, was established in August 2019 as a joint venture between researchers at the New York Genome Center (NYGC) and Weill Cornell Medicine.

A firm spokesman claims that the C2-Intelligence Platform leverages the cloud-based diagnostics service in addition to MRDetect as its primary technology.

The National Cancer Centre Singapore, Aarhus University Hospital, NYU Langone Health, and Lausanne University Hospital, among other locations, are now using the network for both medical and drug development research, according to the business. To speed up the development of innovative cancer treatments and improve the timing of therapy administration based on resurgence detection, C2i is also pursuing regulatory clearances and reimbursement for the platform. In addition, C2i aims to utilize a portion of the additional capital to increase its collaborations with pharmaceutical firms. 

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