Early Stage Cancer Detection Company, Mercy BioAnalytics, Secures $41M in Series A

Mercy BioAnalytics, a company developing early-stage cancer detection technology, has raised $41M in Series A funding.

The round was led by Novalis LifeSciences, with participation from Sozo Ventures, Hatteras Venture Partners, iSelect Fund, American Cancer Society BrightEdge, Broadway Angels, Labcorp and Bruker.

The company intends to use the funds to advance development and commercialization of its Halo test, for high-risk lung cancer screening, its lead clinical indication, and to advance clinical programs in additional indications, including ovarian cancer.

The earlier cancer is detected, the greater the chances of beating it. Mercy BioAnalytics’ Halo Test is designed as a non-invasive, blood-based assay which analyzes single extracellular vesicles. These vesicles exist at high abundance in circulation, even when cancer is in its early stages. Since these vesicles are tumor-specific, the analysis can be run with incredible specificity and accuracy. Mercy’s initial focus is the early detection of ovarian and lung cancers.

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