Member Article

Genomics firm raises £31.5m for revolutionary cancer tests

London-based genomics firm Inviata has completed a £31.5m Seed A funding round which could harbour a revolution in how cancer is tested and treated.

The firm, a spinout of Cancer Research UK, has developed a technique whereby oncologists can test genomic material from a cancer patient’s cell-free, circulating tumour DNA (ctDNA) which can be collected through a simple blood sample. Liquid biopsies are a far simpler and less invasive approach than current methods.

The funding round saw the largest single investment coming from London-based UK technology investment company Imperial Innovations who have committed £10m. Other backers included Cambridge Innovation Capital, Johnson and Johnson Innovation, and Woodford Patient Capital Trust.

Michael Stocum, Chief Executive Officer of Inivata, hailed the new backers and enthused about the potential of the technique when he said: “Our mission is to partner with oncologists to revolutionise cancer treatments and outcomes for their patients - part of a new landscape of personalised healthcare.

“We are grateful to our existing investors for their continuing strong support and are very pleased to welcome Woodford Patient Capital Trust to augment what is already a blue-chip investor base.”

Dr Rob Woodman, Director of Healthcare Ventures, Imperial Innovations said: “Analysis of ctDNA has the potential to transform cancer care and resolve many of the limitations inherent in current tissue-based standard protocols that are highly invasive and are not amenable to serial monitoring.

“Innovations led a seed financing round for Inivata in September 2014. The fact that the Company has secured funding of this size reflects the great progress it has made in such a short time, not least in developing innovative molecular profiling and monitoring products.

“Inivata is already widely recognised as a leader in the field of ctDNA analysis. This new funding will be used to accelerate clinical studies to demonstrate the clinical benefits of Inivata’s approach and provides a strong platform for the Company to roll these products out.”