AI-Powered Precision Oncology Firm Caris Life Sciences Files for $300M IPO

智通财经APP获悉，Caris Life Sciences, Inc. (CAI.US), a medical company focused on cancer diagnosis and treatment technologies, submitted an application for its initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC) on Friday, aiming to raise up to $300 million.

The document shows that the company, backed by Sixth Street Partners, achieved revenue of $120.9 million and a net loss of $127 million in the first three months of 2025; in comparison, during the same period in 2024, revenue was $80.7 million with a net loss of $134.1 million, indicating a narrowing of losses alongside revenue growth.

Caris Life Sciences, founded in 2008, leverages artificial intelligence (AI) and machine learning to analyze oncology data for aiding cancer diagnosis and treatment monitoring. The company has completed over 6.5 million tests across more than 849,000 cases. Its product portfolio includes the tissue molecular profiling solution MI Profile, which contributes significantly to its revenue, and the blood molecular profiling solution Caris Assure, launched in the first quarter of 2024.

Despite IPOs in the medical and biotech sectors typically being a significant part of the U.S. capital markets, activity in this space has notably cooled in 2025 following several high-profile deals that performed poorly recently. According to Bloomberg data, the total amount raised from new stock offerings in this sector on U.S. exchanges so far this year is $1.4 billion, marking a 56% decrease compared to the same period in 2024.

The document pointed out that the shareholders of this Irving, Texas-based company include founder and chairman David Dean Halbert, as well as affiliated entities of private equity firms JH Whitney Capital Partners and Sixth Avenue Capital, with each holding no less than 5% of the shares.

The IPO is led by Bank of America, JPMorgan Chase, Goldman Sachs Group, and Citigroup. The company plans to list on the NASDAQ Global Select Market under the ticker symbol CAI.