Researchers concluded that there has been significant expansion of coverage for ctDNA assays over the past four years, but policies remain very heterogeneous and often limited.
The company is commercializing a genome-wide sequencing method called MRDetect, developed by researchers at the New York Genome Center and Weill Cornell Medicine.
The New York-based firm will use the funding to develop and clinically validate its personalized, real-time tool for monitoring recurrence and treatment response for various sold cancer types.
ArcherDx will develop sequencing-based circulating tumor DNA assays for use in AstraZeneca's recently launched Phase III MERMAID-1 trial of durvalumab (Imfinzi).
The company said the funds will support the continued development and commercialization of its genome-wide methylation assay for multi-cancer early detection.