Biofidelity completes $24M financing round

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Genomics company Biofidelity announced that it has completed a financing round totaling $24 million, bringing the firm’s total funding since its founding in 2019 to $60 million.

The new funding round included participation from current investors including Agilent Technologies, Octopus Ventures, BlueYard Capital, and Longwall Ventures.

In a statement, the Cambridge, U.K.-based Biofidelity said that it intends to use the funds to accelerate the firm’s growth, including commercial and clinical expansion in the United States to increase the commercial adoption of its Aspyre-Lung biomarker assay for non-small cell lung cancer (NSCLC).

Additionally, Biofidelity said that the funding will be used for the establishment of a dedicated manufacturing facility in the U.K., as well as expanding the company’s pipeline across its technology platforms.

The company also noted that it will present the latest data for the Aspyre-Lung test at the American Association for Cancer Research Conference (AACR) from April 5 through April 10 in San Diego.

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