Precede Biosciences Secures $57 Million Series A Financing to Advance Blood-Based Liquid Biopsy Platform for Cancer Detection and Treatment Monitoring

Oct 07, 2023 16:19 CST Updated 16:19

Precede Biosciences

Biotechnology Developer

Bristol-Myers Squibb

Biopharmaceutical and Nutritional Product R&D and Sales

5AM Ventures

Venture Capital Firm

Lilly Asia Ventures

Biopharmaceutical Investment Management Institution

Illumina Ventures

Venture Capital Firms

Qatar Investment Authority

National Wealth Fund

Osage University Partners

Venture Capital Firms

Recently,Precede Biosciences, an emerging liquid biopsy company based in New York, announced the completion of a $57 million (approximately RMB 416 million) Series A financing round., including Lilly Asia Ventures, Illumina Ventures, Bristol Myers Squibb, Osage University Partners, and Qatar Investment Authority, among others.Precede BiosciencesThe blood-based platform developed can accurately detect cancer and other diseases by analyzing circulating chromatin to measure methylation and gene activity, while also monitoring a patient's disease status in real time during treatment.

In this round of financing, Precede will further refine its independently developed liquid biopsy platform to help doctors diagnose cancer more accurately and recommend the best treatment options. At the same time,Precede BiosciencesDedicated to identifying new therapeutic targets directly related to disease biology and evaluating the associated treatment efficacy and drug resistance.

Precede Biosciences was initially incubated under the 4:59 Initiative project by 5AM Ventures. In its early stages, it received strong support from 5AM Ventures and Binney Street Capital of the Dana-Farber Cancer Institute. Currently,PrecedeMore than 7,000 whole-genome disease transcription profiles involving various cancers and other diseases have been successfully generated. The team will present these research findings to the public for the first time at the 2023 European Society for Medical Oncology (ESMO) meeting this month.

Rehan Verjee, CEO and Co-founder of Precede Biosciences, stated"Our developed platform is groundbreaking in the medical field, as it can provide deep insights into the genes and biological pathways of diseases through a simple blood sample. We firmly believe that this will bring significant advancements to the diagnosis and treatment of cancer."

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