The company will market Inivata's InVision liquid biopsy assays to insured and self-pay patients across the region.
Presentations at this month's ASCO meeting demonstrated how efforts are advancing to determine when and how longitudinal ctDNA testing will be useful for oncologists.
The company reported that its genome-wide methylation approach could detect 77 percent of stage II cancers in its ongoing case-control CCGA study.
Thrive Earlier Detection is banking on targeted detection of frequent cancer mutations, coupled with protein markers, while competitors turn to genome-wide approaches.
The company is commercializing a method developed by researchers at Johns Hopkins that detects cancer with high specificity from a blood sample.
Investigators concluded that the spiked samples from SeraCare were a robust tool for inter-lab comparisons and discussed some areas of discordance seen in the study.
The firm plans to use the funds raised to support business activities, as it moves forward in the development of cancer early detection tests.
The company said adopters are ordering tests in areas of great interest, like CTC and blood biomarker monitoring, despite a lack of reimbursement.
The company estimated that the offering could raise between $327.2 and $376.3 million, which it would use for various corporate purposes.
The company saw $1.0 million in revenues for the quarter, including $976,000 from commercial testing, and attributed the growth to its pathology partnership initiative.