NEW YORK – Previse, formerly known as Capsulomics, said Tuesday that it has launched its first laboratory-developed test, Esopredict, after closing a $3 million seed round.
Participants in the financing included Tedco, Wexford Science and Technology, Riptide Ventures, Gaingels, and various angel investors.
The company plans to use the funds to rapidly expand commercial operations and build prospective clinical utility evidence to support potential insurance coverage and reimbursement for the newly launched esophageal cancer risk test.
Esopredict is intended to aid gastroenterologists in personalizing treatment for patients with Barrett's esophagus, a cancer precursor condition in which the tissue lining the esophagus changes and becomes more like the tissue that lines the intestines.
The assay identifies changes in the DNA methylation levels of four genes in esophageal cell samples. Results are then reported in the form of what the company calls an Esoscore, which reflects a patient's risk of developing cancer over a five-year horizon. Depending on that score, gastroenterologists may alter their surveillance and treatment plans.
According to Previse, esophageal cancer is one of the world's most lethal tumors, with a 20 percent five-year survival rate after diagnosis.
"We look forward to empowering individuals who are predisposed to this disease, along with their physicians, with the ability to make informed and rapid treatment decisions, leading to lives saved," Previse CEO and Cofounder Daniel Lunz said in a statement.