#United States #oncology #Missoula #Neuroscience #FYR Bio

FYR Bio Secures $8 Million Funding

FYR Bio, a pioneering biotechnology firm, has made headlines following the completion of an $8 million funding round aimed at bolstering their work in blood-based biomarkers, particularly in the fields of oncology and neuroscience. This significant financial backing comes from a consortium that includes the Sontag Innovation Fund, the Yuvaan Tiwari Foundation, and long-time investor Two Bear Capital. These funds will be directed towards amplifying FYR's ongoing efforts while also addressing the intricate challenges presented by neuro-oncology and neurodegeneration.

Expanding Insightful Technologies

According to the Chief Executive Officer of FYR, Chris Booth, PhD, this financial influx will allow the company to scale their operation in providing critical insights through blood tests, which are often pivotal in diagnosing hard-to-reach diseases. The organization's focus is dual-faceted, as they aim to enhance their neuro-oncology programs while simultaneously expanding their general oncology portfolio to better serve both existing partners and potential new stakeholders.

Dr. Scott Davis, managing director of the Sontag Innovation Fund, expressed enthusiasm about FYR's unique proposition. The firm invests in technologies that have the potential to significantly improve patient outcomes, especially for individuals fighting brain cancer. He reiterated that FYR’s innovative capability to capture tumor signals from a simple blood draw and translate them into actionable clinical biomarkers aligns seamlessly with their mission to elevate brain cancer treatment protocols.

Two Bear Capital’s Principal, Dr. Avery Sonnenberg, echoed this sentiment, emphasizing FYR's adept blend of chemical innovation and advanced AI analytics. According to him, FYR is not just scaling across solid tumors but also unlocking applications within the Central Nervous System (CNS), where capturing clean, non-invasive bio-signals poses tremendous difficulty. Supporting the natural expansion of FYR into neuro-oncology and neurodegeneration is a promising venture that both New Bear Capital and the other foundations are keen on.

Commitment to Pediatric Cancer Solutions

Parvati Tiwari, President and Co-Founder of the Yuvaan Tiwari Foundation, articulated a deep commitment to revolutionizing treatments for children afflicted with aggressive brain tumors. The foundation, established in memory of her son, Yuvaan, focuses on advancing transformative research that could lead to breakthroughs in the treatment of Diffuse Midline Glioma (DMG). Through FYR’s EVO platform—which facilitates early disease insights via non-invasive methods—she hopes that better treatment decisions can be made, ultimately improving patient outcomes.

Recent Developments in Disease Detection

In the past year, FYR has not only corroborated its clinical datasets but also elevated its partnerships aimed at CNS-focused research. Their innovative AI-enabled technology recently demonstrated its capability to differentiate adult malignant gliomas from healthy individuals, achieving 100% specificity and 89% sensitivity based on a panel of proteins from brain-derived extracellular vesicles. These findings, which were highlighted at the 29th Annual Meeting of the Society for Neuro-Oncology (SNO) last year, are expected to address various unmet needs within neuro-oncology, including the crucial aspect of disease monitoring.

Additionally, FYR is advancing its efforts in developing biomarkers for Parkinson's Disease. These initiatives are aimed at patient stratification as well as facilitating pharmacodynamic assessments through longitudinal sampling, a project that has garnered media attention, including features in Inside Precision Medicine.

About FYR Bio and Collaborators

FYR Bio (formerly known as FYR Diagnostics Inc) is setting a new standard in how diseases and treatment responses are monitored and interpreted, leveraging their EV-Omics (EVO) platform which utilizes proprietary technologies for extracting extracellular vesicles from diseased cells. This innovation enables a comprehensive investigation of regulatory cellular proteins and nucleic acids derived from peripheral blood samples. Their approach, underscored by multiomic insights powered by AI, stands to redefine patient care pathways—from screening procedures through treatment selections to ongoing monitoring.

The Sontag Innovation Fund is a key player in funding groundbreaking brain cancer research in the U.S. while the Yuvaan Tiwari Foundation strives to support exceptional research aimed at combating pediatric brain cancers. Two Bear Capital, meanwhile, focuses on transformative technological innovations and life sciences ventures.

With the closing of this funding round, FYR Bio is on a decisive path to redefining what’s possible in oncology and neuroscience, potentially impacting countless lives positively.