PrognomiQ has closed its Series D financing round, securing $34m, for advancing the development of an early lung cancer detection test.
The round, led by Seer with contributions from new and existing investors, increased the company’s total funding to exceed $135m since its inception in September 2020.
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The company plans to offer the product as a lab-developed test (LDT) and as an in vitro diagnostics test (IVD) later.
PrognomiQ recently received a Clinical Laboratory Improvement Amendment (CLIA) licence for supporting the LDT product development.
A prospective study with 15,000 subjects for lung cancer, initiated last year, is currently underway to support the IVD product registration.
Seer’s proteomic platform, which allows for in-depth, unbiased proteomic analysis, is central to PrognomiQ’s approach.
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By GlobalDataPrognomiQ’s technology integrates Seer’s Proteograph Product Suite with other data types, including cell-free deoxyribonucleic acid (DNA), ribonucleic acid (RNA), metabolites, and lipids, to recognise certain biomarkers.
The integration of proteomic data with epigenomic, genomic, transcriptomic, and metabolomic data offers biological insights, leading to new diagnostic and therapeutic development approaches.
PrognomiQ CEO and president Philip Ma said: “We’re grateful for the support from our syndicate of investors and board members, who acknowledge the exceptional value of our platform, and the opportunity to advance the development of our transformative, early detection lung cancer products.
“We have an exciting path ahead of us as we develop products that have the potential to dramatically improve patient outcomes for lung cancer, the leading cause of cancer-related deaths worldwide, through early detection.”
The company announced outcomes from a 2,513-subject case-control multi-omics study, which demonstrated 89% sensitivity and specificity in detecting lung cancer, including 80% sensitivity for Stage I lung cancer.
This study compared molecular differences in the peripheral blood plasma of lung cancer subjects and non-cancer controls, including those at high risk.
Alongside this financing, PrognomiQ also announced the joining of Isaac Ro as the independent board director.
