Wednesday, June 12, 2024
HomeInvestmentsDelfi Diagnostics Raises $225M in Series B Financing 

Delfi Diagnostics Raises $225M in Series B Financing 

Delfi Diagnostics, Inc., a Palo Alto, CA- and Baltimore, MD-based developer of a new class of high-performance, accessible liquid biopsy tests for early cancer detection and monitoring, raised USD225m in Series B funding.

This round was led by DFJ Growth with participation from Eli Lilly and Company, Point72, Brown Advisory, Point Field Partners, Initiate Ventures, Open Field Capital, PTX Capital, and all existing investors including Cowen Healthcare Investments, Foresite Capital, Menlo Ventures, OrbiMed, funds and accounts advised by T. Rowe Price Associates, Inc., Northpond Ventures, Samsara BioCapital, Rock Springs Capital, AV8 Ventures, Illumina Ventures, Osage University Partners, and Windham Venture Partners. In conjunction with the funding, DFJ Growth Partner Justin Kao, joined Delfi’s board of directors. 

The company intends to use the funds for the continued development and commercialization of high-quality and accessible blood tests for single cancer early detection, multi-cancer early detection, and treatment monitoring.

Led by Victor Velculescu, MD, PhD, CEO and Founder, Delfi has built a platform designed to efficiently develop high-quality liquid biopsy applications via a proprietary and scalable whole genome fragmentation approach. Delfi analyzes cell-free DNA fragments across the entire genome. This allows for a single, low-cost, and straightforward lab process for any test developed on the platform. When combined with breakthroughs in machine learning, the platform can deliver high-performing results for multiple applications.

The company is currently validating the technology for early detection of lung and other cancers in a 15,000-person prospective trial called CASCADE-LUNG, and is working with multiple research institutions to develop additional applications including screening for other cancer types, multi-cancer early detection, and treatment monitoring.





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