Naveris has announced a $33.4 million expansion of its Series A financing, bringing the total investment to $51 million.
The financing was led by Gurnet Point Capital alongside TechU Ventures and BrightEdge, the impact and venture capital arm of the American Cancer Society.
Naveris’ blood tests use proprietary patented DNA fragmentomics technology to distinguish between viral DNA arising from cancers versus infection.
Proceeds from the round will be used to advance commercialisation of NavDx – Naveris’ flagship blood test for the early detection of cancers caused by the human papillomavirus (HPV).
The financing will also help generate the clinical data needed to expand into other cancer types and indications.
Piyush B. Gupta, Ph.D., Naveris founder and Chief Executive Officer, said:
“We are delighted to have the continued support of Gurnet Point Capital and TechU Ventures, and to welcome Alice Pomponio and the rest of the BrightEdge team, who collectively bring a deep understanding of both the oncology space and commercial-stage businesses.
“We founded Naveris on the belief that advances in molecular diagnostics will play a vital role in improving cancer outcomes.
“This new investment underscores NavDx’s commercial success and potential, and our experienced team’s ability to transform this vision into a reality for patients and oncologists.”
Travis Wilson, Partner at Gurnet Point Capital, said:
“Since our initial investment in 2020, we have been impressed by the Naveris team’s vision and their ability to commercially execute on a differentiated strategy in the rapidly developing field of blood-based cancer detection.
“We are pleased to be providing additional capital to ensure that their transformative technology for early cancer detection will benefit as many patients as possible.”
Alice Pomponio, BrightEdge Managing Director, added:
“We could not be more excited to back Piyush and his team as Naveris works to increase access to diagnose, detect, and monitor viral cancers.
“We understand the burden of HPV related cancers on patients.
“And we seek to build on the years of research and advocacy of the American Cancer Society to support the next generation of mission aligned companies reducing patient burden.”
