NEW YORK — Cancer detection startup Naveris said Monday it has secured a $33.4 million expansion of its Series A financing round to reach a total investment in the firm of $51 million that will be used to commercialize and advance its early, viral-driven cancer detection tests.
The round was led by Gurnet Point Capital along with TechU Ventures and BrightEdge, which is the venture capital arm of the American Cancer Society. Gurnet Point Capital also led a $17 million Series A financing round that closed in 2020.
The Natick, Massachusetts-based molecular diagnostics firm said it plans to use the money to advance commercialization of its NavDx blood test for the early detection of cancers caused by human papillomavirus infections as well as generate clinical data on tests for other cancer types and indications. Researchers at the University of North Carolina developed the technology behind Naveris' liquid biopsy tests, which quantify fragments of tumor-specific DNA circulating in blood and can help identify the presence of HPV-related head and neck cancers.
The NavDx assay is offered through Naveris' CLIA laboratory to cancer centers and academic medical centers.