NEW YORK – Caris Life Sciences said Tuesday that it has raised $830 million in a growth equity round, giving the firm a post-money valuation of $7.83 billion.
According to Caris, the financing provides it with strategic capital for continued commercial expansion as it promotes its multiomic Molecular Intelligence service and continues work on a liquid biopsy solution intended to serve a variety of niches including therapy selection, recurrence monitoring, and multi-cancer early screening.
David Halbert, Caris' chairman and CEO, said in a statement that the new funds will specifically allow "the delivery of transformative applications of molecular science, including the launch of our early detection blood-based pan-cancer test, providing results for every patient with no non-shedders."
The round was led by Sixth Street, with other significant participants including accounts advised by T. Rowe Price Associates, Silver Lake, Fidelity Management & Research Company, and Coatue.
Additional investors in the round included Columbia Threadneedle Investments, Canada Pension Plan Investment Board, Millennium Management, Neuberger Berman Funds, Highland Capital Management, Rock Springs Capital, OrbiMed, ClearBridge Investments, Tudor Investment, Eaton Vance Equity (Morgan Stanley), Pura Vida Investments and First Light Asset Management.
Added to earlier fundraisings, the new investment raises the company's total external financing to $1.3 billion since 2018.