The firm said that it will use the Horizon 2020 Phase II grant to fund a multicenter trial aimed at validating its platform for early detection of recurrent renal cell carcinoma.
The firm plans to seek full commercial approval for its assay, which integrates biomarker identification with a patient's electronic medical record, later this year.
The Series E financing will go, in part, toward expansion of the company's US presence by growing its workforce and marketing to more American hospitals.
Using deep learning, researchers attempted to classify non-small lung cancer subtypes and predict lung adenocarcinoma mutations from histopathology slides.
The framework, called HEAL, could be used as an early screening test for AAA and as a personal health management tool. In addition, it may be applicable to other complex diseases.
Veracyte anticipates that it can tap into the growing precision medicine market by leveraging its database of RNA sequencing data for thyroid and lung cancer.
Having achieved CE marking, the new OLO system has launched in Europe and non-US countries, while the company is conducting studies necessary for US FDA clearance.
