Delfi Diagnostics Raises $225 Million Series B

by Kay Aloha Villamor in July 19th, 2022

Delfi Diagnostics, a Palo Alto, CA-based pioneering developer of a new class of high-performance, accessible liquid biopsy tests for early cancer detection and monitoring, announced that it raised $225 million Series B funding.

The round was led by DFJ Growth with participation from Eli Lilly and Company, Point72, Brown Advisory, Point Field Partners, Initiate Ventures, Open Field Capital, and PTX Capital.

All existing investors including Cowen Healthcare Investments, Foresite Capital, Menlo Ventures, OrbiMed, funds, and accounts advised by T. Rowe Price Associates, Inc., Northpond Ventures, Samsara BioCapital, Rock Springs Capital, AV8 Ventures, Illumina Ventures, Osage University Partners, and Windham Venture Partners also participated in the round.

This funding will support the continued development and commercialization of high-quality and accessible blood tests for single cancer early detection, multi-cancer early detection, and treatment monitoring.

Company: Delfi Diagnostics, Inc.

Raised: $225.0 M

Round: Series B

Funding Month: July 2022

Lead Investors: DFJ Growth

Additional Investors: EliLilly and Company, Point72, Brown Advisory, Point Field Partners, Initiate Ventures, Open Field Capital, PTX Capital, Cowen Healthcare Investments, ForesiteCapital, Menlo Ventures, OrbiMed, T. Rowe Price Associates, Inc., NorthpondVentures, Samsara BioCapital, Rock Springs Capital, AV8 Ventures, IlluminaVentures, Osage University Partners, and Windham Venture Partners.

Company Website: https://delfidiagnostics.com/

Software Category: Machine Learning Algorithms

About the Company: Delfi is developing a new class of liquid biopsy tests for early detection based on altered genome-wide fragmentation profiles, also known as “fragmentomes,” representing aberrant packaging of DNA in cancer cells. By applying advanced machine learning algorithms, these fragment patterns are detectable at a very low sequencing cost. Delfi (“DNA Evaluation of Fragments for early Interception”) is using this technology to develop highly sensitive and specific cancer detection assays intended for wide and cost-effective distribution and adoption.

Source: https://www.prnewswire.com/news-releases/delfi-diagnostics-announces-225-million-series-b-financing-to-develop-globally-accessible-portfolio-of-liquid-biopsy-tests-301587841.html



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