Precede Biosciences raises $57M to advance liquid biopsy platform

Precede Biosciences raises $57M to advance liquid biopsy platform

A promising new venture, emerging from the esteemed Dana-Farber Cancer Institute, is set to revolutionize the landscape of cancer diagnostics and drug development, armed with an impressive initial funding infusion of $57 million. Precede Biosciences, born from the support of Dana-Farber’s Binney Street Capital investment fund and 5AM Ventures’ startup incubator known as the 4:59 Initiative, has embarked on an ambitious mission.

This substantial funding encompasses contributions from various sources, including a series A venture capital round jointly led by 5AM Ventures and Lilly Asia Ventures, with participation from notable backers such as Illumina Ventures, Bristol Myers Squibb, Osage University Partners, and the Qatar Investment Authority.

What sets Precede Biosciences apart is its unique approach to cancer blood tests, transcending the confines of traditional tumor-associated mutation identification. Their liquid biopsy technique delves deep into the intricate realm of transcriptional biology within the body. By scrutinizing the DNA present in as little as 1 milliliter of plasma and meticulously cataloging the myriad compounds orchestrating the transformation of specific genes into functional proteins, Precede aims to decipher alterations in cellular function and disease progression.

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In an exciting revelation, Precede disclosed its ongoing collaborations with biopharmaceutical companies, aiding them in unraveling how these biological processes can underpin drug resistance mechanisms and furnish potential targets for novel cancer therapies. While currently tailored for research applications, the company has ambitious plans to evolve its platform into clinical care, offering a non-invasive alternative to traditional tissue-based biopsies.

โ€œOur platform is a true first for the field as it enables comprehensive profiling of dynamic disease-site biology at the gene and pathway level from a simple blood draw. Existing liquid biopsy technologies have impacted millions of patients with cancer over the last decade, and the precision medicine application space for Precede transcends that of even the most successful of these liquid biopsy technologies, creating a significant opportunity for us to impact the practice of medicine.โ€ 

– Precede co-founder and CEO Rehan Verjee

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During its developmental journey within the Dana-Farber ecosystem, Precede’s tests have generated an impressive portfolio of over 7,000 genomewide transcriptional profiles, encompassing various diseases spanning multiple cancer types and other medical conditions.

The company is poised to unveil its groundbreaking scientific data at the forthcoming annual congress of the European Society for Medical Oncology, scheduled later this month in Madrid. This milestone promises to provide further insights into Precede Biosciences’ pioneering approach to reshaping the landscape of cancer diagnosis and therapy development.

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