Caris Life Sciences raises US$168M to fuel AI-powered cancer diagnostics

USA—Caris Life Sciences, a pioneering AI TechBio company and leader in precision medicine, has successfully closed a significant growth capital funding round of US$168 million.

This substantial investment brings the company’s total capital raised since 2018 to an impressive US$1.86 billion.

The funding round was led by Braidwell LP, a prominent life science-focused investment firm and existing investor, with participation from new investors such as Perceptive Advisors, Woodline, and Ghisallo.

Additionally, several existing investors, including Millennium Management and First Light Asset Management, also contributed to the round.

According to Brian J. Brille, Vice Chairman and Executive Vice President of Caris, this financing round includes participation from some of the most knowledgeable healthcare investors.

These investors possess deep domain expertise and a keen appreciation for the Caris platform and its opportunities.

Brille emphasized that Caris is proud to partner with a high-quality and diverse investor syndicate that shares their mission to improve patient outcomes.

David D. Halbert, Chairman, Founder, and CEO of Caris, highlighted that the company places patients at the center of everything they do.

He noted that this funding will enable Caris to bring its market-leading science and technologies to as many patients as possible, furthering their goal of revolutionizing precision medicine.

Halbert emphasized that they aim to unlock the full potential of precision medicine by comprehensively analyzing cancer at the molecular level, thereby enabling the delivery of transformative applications of molecular science.

Narendra Nayak, a partner at Braidwell, expressed his firm’s pleasure in continuing their relationship with Caris.

 Nayak believes that Caris is well-positioned as a leader in precision medicine. It has advanced its position among physicians, patients, and biopharma partners as a trusted provider, molecular science leader, and innovator.

Recently, Caris achieved a significant milestone by launching MI Cancer Seek, the first and only simultaneous Whole-Exome and Whole-Transcriptome Sequencing-Based assay with FDA-approved companion diagnostic indications for molecular profiling of solid tumors in adult and pediatric patients.

In 2024, Caris commercially launched Caris Assure, a minimally invasive, blood-based assay that utilizes a novel circulating Nucleic Acid Sequencing (cNAS) approach.

This innovative assay analyzes cell-free DNA and RNA from plasma, as well as genomic DNA and messenger RNA from circulating white blood cells, to distinguish between somatic tumor, incidental clonal hematopoiesis, and incidental germline variants.

These advancements underscore Caris’s commitment to delivering cutting-edge precision medicine solutions that improve patient outcomes.

This funding will be strategically used to allow Caris to expand its operations and further develop its research and development sector.

By leveraging advanced AI and machine learning algorithms, combined with comprehensive molecular profiling, Caris aims to create a more thorough understanding of disease at the molecular level.

This approach enables the company to provide physicians with high-quality information to guide treatment decisions, ultimately enhancing the effectiveness of precision medicine.

Caris’s efforts are part of a larger trend in the broader context of precision medicine: Companies are increasingly using AI and machine learning to advance cancer treatment.

For instance, partnerships like the one between ConcertAI and Caris have led to the development of databases that provide insights for oncology-focused precision medicine and therapeutic development.

Similarly, other companies, such as ImpriMed, are focusing on human precision medicine services for complex blood cancers, utilising genomic analysis and machine learning to predict drug responses.

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