Thrive Earlier Detection Corp closes USD257m financing round
29 July 2020 -

Cancer testing developer Thrive Earlier Detection Corp has raised USD257m in a Series B financing round, the company announced on Wednesday.

Thrive is developing CancerSEEK, a liquid biopsy test designed to detect many cancers at earlier stages of disease.

The financing round was led by Casdin Capital and Section 32, with participation from new investors Bain Capital Life Sciences, Brown Advisory, Driehaus Capital Management, Intermountain Ventures, Janus Henderson Investors, Lux Capital, Moore Strategic Ventures, Perceptive Advisors, Rock Springs Capital, Sands Capital, funds and accounts advised by T. Rowe Price Associates Inc, and other undisclosed investors.

All of Thrive's Series A investors returned to participate in the Series B financing, the company said.

Thrive intends to use the financing to advance CancerSEEK into registrational trial.

In conjunction with the investment by Casdin Capital, its founder and chief investment officer Eli Casdin has been appointed to Thrive's board of directors.