#USA #Caris Life Sciences #Irving #Precision Medicine #MI Cancer Seek

Caris Life Sciences Raises $168 Million in Growth Capital

Caris Life Sciences®, an innovator in AI-driven biotechnology and a leader in precision medicine, has announced the successful closure of a $168 million growth capital funding round. Since 2018, the total capital raised by the company has reached an impressive $1.86 billion, marking a significant milestone in their ongoing mission to enhance patient care through advanced molecular profiling and therapeutic selection.

The recent funding round was primarily led by Braidwell LP, an investment firm known for its focus on life sciences, along with contributions from new investors including Perceptive Advisors, Woodline, and Ghisallo. Existing investors such as Millennium Management and First Light Asset Management also maintained their commitment by participating in this significant financial injection.

Vision for the Future

According to Brian J. Brille, Vice Chairman and Executive Vice President of Caris Life Sciences, this new funding round brings together some of the most knowledgeable healthcare investors. Their insights and understanding of the Caris platform amplify the potential impact of this investment on patient outcomes. Brille emphasized, "This financing includes participation by some of the most knowledgeable healthcare investors with deep domain expertise and appreciation of the Caris platform and opportunity."

David D. Halbert, the Chairman, Founder, and CEO of Caris, further elaborated on the transformative ambitions of the company. He stated, "Caris puts the patient at the center of everything we do. This raise will help us bring our market-leading science and technologies to as many patients as possible and further our goal of revolutionizing precision medicine." Caris seeks to unlock the complete potential of precision medicine by conducting thorough investigations of cancer at the molecular level, thereby enabling the development of innovative applications in molecular science.

FDA-Approved Innovations

In its ongoing effort to enhance diagnostic and therapeutic options for patients, Caris Life Sciences has recently received FDA approval for MI Cancer Seek®. This groundbreaking tool is the first of its kind, offering simultaneous Whole Exome and Whole Transcriptome Sequencing-based assays specifically designed for the molecular profiling of solid tumors in both adult and pediatric patients. Additionally, in 2024, Caris launched Caris Assure™, a minimally invasive blood-based assay that employs a new circulating Nucleic Acid Sequencing (cNAS) approach. This assay distinguishes between somatic tumors, incidental clonal hematopoiesis, and germline variants, allowing for precise therapy selection.

Commitment to Innovation

Caris Life Sciences is steadfast in its commitment to reshaping healthcare and improving the human condition through the development and delivery of innovative solutions. By utilizing comprehensive molecular profiling along with cutting-edge AI and machine learning algorithms, Caris aims to analyze and address the complexities of diseases more effectively than ever before.

Founded with a vision to fulfill the promise of precision medicine, Caris is headquartered in Irving, Texas, and maintains additional offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan, and Basel, Switzerland. The company and its distribution partners provide services not only in the U.S. but also in various international markets.

As the demand for advanced and effective healthcare solutions rises, the strategic growth initiatives undertaken by Caris Life Sciences will reinforce its standing as a leader in the ever-evolving field of precision medicine. With the significant funding secured and innovative technologies in development, Caris is well-poised to make substantial strides in transforming patient care and advancing healthcare as a whole.