Epic Sciences Raises $24M in Series G Financing to Continue Funding Commercialization of DefineMBC
Epic Sciences, a privately held diagnostics company, has completed a $24 million Series G which together with its $43 million Series F financing, totals $67 million raised in the last twelve months. The company will use the capital from this additional round of private investment to fund the commercial infrastructure required to commercialize the three component tests of DefineMBC, which together provide a comprehensive blood-based biopsy result for patients with metastatic breast cancer.
The financing was co-led by Deerfield Management and Arsenal Capital Partners, and included broad participation from Epic Sciences shareholders including Blue Ox Healthcare Partners, Domain Ventures, and Labcorp.
“I’m excited to announce that Epic’s pre-launch activities related to DefineMBC have exceeded our expectations. We have delivered comprehensive test results to 700 patients and their oncologists in our Clinical Experience Program,” said Lloyd Sanders, President and CEO, Epic Sciences. “We have surveyed the physicians participating in the Clinical Experience Program and their responses indicate that oncologists see the value in DefineMBC’s ability to provide actionable information that allows them to better care for their patients.”
DefineMBC™ provides the most comprehensive blood-based biopsy results available to patients with metastatic breast cancer by delivering a report which includes:
- detection of circulating tumor cells (CTCs)
- assessment of HER-2 cellular protein expression coupled with
- single-cell sequencing of identified cells to assess amplification of the ERBB2 gene locus
- assessment of ER cellular protein expression
- a plasma-based, 56-gene panel of cell-free DNA including
- ERBB2 and PIK3CA
- tumor mutational burden (TMB)
The new investment will enable the company’s efforts related to the commercialization of the DefineMBC tests, including the continued expansion of the company’s new market-facing departments: sales, product marketing, customer service, medical affairs, payer markets, and billing. The investment also continues to fund the development of additional concordance and outcomes data for the DefineMBC tests.
Andrew El Bardissi, a member of the company’s board of directors and Partner at Deerfield Management, said, “Deerfield is pleased to support Epic Sciences at this critical stage of commercialization. We believe DefineMBC is poised to change the management of metastatic breast cancer.”
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