Epic Sciences, Inc., a San Diego, CA-based diagnostics company, closed a $43m first close of its Series F financing.
Arsenal Capital Partners was the lead investor. Existing investors, such as Blue Ox Healthcare Partners or Deerfield Management, participated in the round. Concurrent with the financing round, Epic has also appointed two new members to its Board of Directors: James Rothman PhD, the Chair of Arsenal’s Healthcare Advisory Board, a renowned cell biologist and Nobel Laureate, who was formerly Chief Scientist of GE Healthcare, as well as Richard Eglen PhD, a Senior Advisor of Arsenal, who brings decades of industry leadership experience with companies such as PerkinElmer, Roche Bioscience, and Corning Inc.
The capital will be used by the company to expand its multi-omic platform, single-cell sequencing, and data analytics infrastructure.
Epic Sciences President and CEO Lloyd Sanders leads the company’s development and marketing. He is responsible for developing and marketing new diagnostics to help with therapy selection, monitor disease progression, and personalize and improve the management and treatment of prostate and breast cancers. The company’s liquid biopsy platform leverages proven, proprietary cell analysis capabilities as well as cell-free analysis to provide more complete, efficient analysis and clearer insights – Comprehensive Cancer Profiling. The company has partnered with major cancer centers and pharmaceutical companies to improve patient outcomes by using its fully-service CAP/CLIA-accredited lab and support services.
DefineMBC™, Epic’s novel blood-based test for comprehensively characterizing metastatic breast cancer, has been reporting patient results since April 2022. The test’s multi-analyte methods have demonstrated impressive sensitivity, specificity, accuracy, and precision in the:
- CTCs (detection of circulating cancer cells)
- Evaluation of protein expression (HER2, EER)
- Individual CTCs can be used to determine intra-cell copy number variations.
- Identification of single nucleotide variations (SNVs), indels and fusions using plasma-based cell free DNA analysis, calculation of microsatellite instability and tumor mutational burdens (TMB).