Epic Sciences Raises $52M to Expand Cancer Diagnostic Portfolio
Summary
Oncology diagnostics company Epic Sciences, which last year launched what it describes as the only test that can help guide treatment for patients with advanced prostate cancer, has raised $52 million in a financing led by New York private equity firm Blue Ox Healthcare Partners to develop tests to address more types of cancer.The San Diego-based company, which announced the close of the Series E round Wednesday, said it will use the proceeds to create additional blood tests, often referred to as liquid biopsies, to help guide clinicians in selecting the best course of treatment for patients who have been diagnosed with cancer.Personalized medicine, an increasingly popular approach to healthcare, uses scientific advances to include patient genetics in determining treatment.Epic said the blood test, which is being sold by Genomic Health (NASDAQ: GHDX ), reveals whether a patient with late-stage prostate cancer would respond to hormone-based therapy or should instead receive chemotherapy.Epic said it also intends to use the proceeds from the financing to integrate its platform with electronic medical records with the aim of identifying patterns of cancer cell evolution, drug selection, and clinical outcomes.
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