Veracyte announces completion of Series B round

NewsGuard 100/100 Score

Veracyte, Inc. announced today the successful completion of its Series B round, a key milestone toward the company's first product launch later this year. The South San Francisco biotechnology company is committed to pioneering molecular cytology diagnostics to improve patient care and lower health care costs. This round was led by Domain Associates with significant participation from Veracyte's founding investors including Kleiner Perkins Caufield & Byers (KPCB), TPG Biotech (TPG), and Versant Ventures.

"We are honored to have Domain Associates lead this round," said Veracyte's CEO, Bonnie Anderson. "Domain, along with KPCB, TPG, and Versant, has a successful track record in guiding the commercialization of new and innovative technologies to improve patient care. This investment will be used to bring our advanced testing service in thyroid cancer to market by the end of this year."

Veracyte seeks to develop and commercialize molecular cytology solutions to improve the early and accurate diagnosis of cancer, thereby aiding physicians and patients in making more informed treatment decisions. Discovered through the use of state-of-the-art whole genome analysis tools, the thyroid product is designed to classify indeterminate thyroid nodules accurately as benign or suspicious for malignancy, thereby significantly reducing the number of benign surgeries. The test is currently being validated using a large-scale, prospective, multicenter clinical trial underway at more than thirty community sites and a dozen academic medical centers across the United States.

The company's product pipeline includes advanced molecular testing for thyroid and lung cancer. The lung program is in early stage biomarker discovery.

SOURCE Veracyte, Inc.


The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
Cervical cancer rates drop significantly among vaccinated women