DiaCarta, Ltd Raises $45 Million USD Series B Funding to Expand Its Liquid Biopsy Cancer Detection Platform & Services
DiaCarta has announced that it has completed its Series B funding round, realizing a total of $45.0M USD. The second closing was led by Fortune Fountain Capital (FFC) and was also subscribed to by Good Health Capital (GHC).
Commenting on the announcement, Aiguo (Adam) Zhang, Ph.D., Founder and CEO of DiaCarta, stated, “The Series B financing will support the Company’s core XNA technology platform for early cancer detection, expanding our diagnostic products for non-invasive early detection and monitoring of cancers. In addition, we will be strengthening our comprehensive IP position, expanding further into global markets with concomitant applications for FDA and CFDA certifications. DiaCarta is very pleased to add FFC and GHC to our family who shares our vision to build a world-leading molecular diagnostic company that will impact patient health.”
The funds raised in this financing round will be used to drive profitable growth in the following areas:
- Setting up global clinical study programs for non-Invasive Early Cancer detection to include Recurrence and Monitoring indications;
- The commercial launch of ColoScape™, a highly sensitive in vitro diagnostic assay for the detection of colorectal cancer in liquid biopsy and tissue samples;
- Expansion of product development pipeline to include a range of gene mutation and fusion panels using core technology platforms in DNA low frequency mutation detection; and a highly sensitive next generation of multiplexing HPV (Human papillomavirus) genotyping E6/E7 mRNA test, etc;
- Expansion of DiaCarta’s CLIA & OptiSeq™ Next Generation Sequencing offerings;
- Strengthening core IP position and applications for FDA and CFDA certifications for relevant tests;
- Expansion of commercial team and relevant support roles to meet the demands and challenges of a growing product portfolio within global market channels.
DiaCarta’s mission is to provide its customers with molecular diagnostic tests and NGS services that are reliable, highly sensitive, low cost, and work with both tissue and liquid biopsy samples that impact treatment plans that strive to improve the well-being of patients.
DiaCarta is focused on genomic innovation through detection and amplification technologies headquartered in Richmond, California. The company has an ISO 13485-certified facility, which is used to develop, manufacture and market a range of cancer research and IVD products. DiaCarta specializes in genomic testing for biomarkers and offers clinical sample testing services in a CLIA-certified laboratory. In addition, the company has a clinical service laboratory in Nanjing, China. QClamp® and OptiSeq™ are patented xeno nucleic acid (XNA™) based technologies that enable highly sensitive detection of actionable mutations using qPCR and next-generation sequencing (NGS) platforms on challenging patient specimens. Other XNA applications include CRISPR/Cas9 gene-editing event screening and adapter dimer removal for NGS library preparation. To learn more, visit https://www.diacarta.com.
The novel QClamp® Xeno-Nucleic Acid (XNA™) clamping technology has solved the interference bottleneck of wild-type DNA in gene mutation detection and has successfully enhanced the sensitivity and specificity in the detection process, especially in the liquid biopsy field. The technology can be widely used in quantitative PCR (qPCR), gene chip, nanotechnology and all generations of NGS platforms and is underpinned by over 80 patents.
DiaCarta announced that CIO Bulletin has named it among the 30 Fastest Growing Companies of 2018. The positioning is based on DiaCarta’s revenue growth, financial status, openness to innovation, global collaboration and partnership, flagship products launching, regulatory progress and ability to forecast future business and technology trends.
DiaCarta announced that it is launching a new suite of CE-IVD marked highly sensitive hydrolysis probe (TaqMan-qPCR) based QClamp® assays for detection of common cancer mutations in genes, such as KRAS, NRAS, BRAF, EGFR, PIK3CA and JAK2, using tissue biopsy (FFPE) and liquid biopsy (cfDNA) samples.
DiaCarta, Inc., Awarded $2 Million NCI Contract to Pursue Regulatory Approval of Innovative Cancer Radiation Response Blood Test
DIACARTA, Inc. announced today that it has received a $2 million National Cancer Institute (NCI) Small Business Innovation Research (SBIR) contract to continue development of its RadTox™ cfDNA radiation therapy toxicity monitoring test kit for cancer patients.
DiaCarta has been recognized as one of the Top 10 In-Vitro Diagnostic Technology Solution Providers 2018 by Med Tech Outlook Magazine. The positioning is based on an evaluation of DiaCarta’s specialty in genomic testing for biomarkers, personalized diagnostics and clinical sample testing service provided in their CLIA-certified lab.
DiaCarta today announced that it has signed a distribution agreement with Arrow Diagnostics. Under the agreement, Arrow Diagnostics becomes sole distributor of ColoScape™ a multigene biomarker TaqMan qPCR in vitro diagnostic (CE-IVD) test in Italy, San Marino & Vatican City.