Grail Brings VC Funding to $1.5B with Latest Round

Even two years after its inception, Grail is still continuing to bring in huge financing rounds. This time, the liquid biopsy specialist raised $300 million in its oversubscribed Series C round. The Menlo Park, CA now has raised $1.5 billion in its pursuit to develop the holy grail of cancer detection tests. The financing is led by Ally Bridge Group, co-led by Hillhouse Capital Group and 6 Dimensions Capital, and includes Blue Pool Capital, China Merchant Securities International, CRF Investment, HuangPu River Capital (HPR), ICBC International, Sequoia Capital China, and WuXi NextCODE. Grail said the Series C funding will add to its balance sheet and support ongoing development and validation of products for the early detection of cancer in its clinical research program. The huge funding rounds are needed for the massive scope of Grail’s clinical trials. “Grail has continued to execute at a rapid pace towards its goal of saving lives through early detection of cancer. We have enrolled more than 73,000 participants in our population-scale clinical studies, CCGA and STRIVE, and are on-track to complete enrollment in both studies this year,” Grail CEO Jennifer Cook, said in a release. “We recently reported data supporting the potential for development of a highly specific and sensitive blood test and are now continuing our development programs to optimize and validate a product for early detection of multiple cancer types.” Previously, Grail raised $900 million in a Se...
Source: MDDI - Category: Medical Devices Authors: Tags: IVD Source Type: news