Tuesday, October 4, 2022


Biotechnology News Magazine

Epic Sciences Raises $43M In 1st Close of Series F Financing

Funding will accelerate commercial launch of DefineMBC™ and expand Epic Sciences' liquid biopsy solutions for key global oncology trials

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Epic Sciences, Inc. (“Epic” or “Epic Sciences”), a privately held diagnostics company, has completed a $43 million first close of its Series F financing.

Epic Sciences will use the capital from this additional round of private investment to continue to advance its multi-omic platform and expand operations in areas such as single-cell sequencing and data analytics infrastructure.

Arsenal Capital Partners (“Arsenal”), a leading private equity firm specializing in building transformational healthcare businesses, led the growth investment, which included continued support from existing investors such as Blue Ox Healthcare Partners, Deerfield Management, and Labcorp.

“We are extremely proud to have a world-class group of strategic partners backing us to meet the growing demand for Epic’s liquid biopsy offerings,” says Lloyd Sanders, President and CEO, Epic Sciences. “We are continuing to innovate testing for both the research and clinical markets. Our biopharma partners are driving our presence into drug development efforts and an increasing number of clinical trials, while we continue to see growing excitement from practicing clinical oncologists for DefineMBC™ and future tests.”

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:

  • detection of circulating tumor cells (CTCs)
  • assessment of protein expression (HER2, ER)
  • determination of intra-cell copy number variations (CNV) within individual CTCs
  • identification of single nucleotide variants (SNVs), indels, fusions, and CNVs from plasma-based cell-free DNA analysis, the calculation of microsatellite instability (MSI) and tumor mutational burden (TMB)

Concurrent with the financing round, Epic has also appointed two new members to its Board of Directors: James Rothman Ph.D., 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 Ph.D., a Senior Advisor of Arsenal, who brings decades of industry leadership experience with companies such as PerkinElmer, Roche Bioscience, and Corning Inc.

“What is most exciting about Epic’s approach is the ability to derive valuable insights from data at the cellular and subcellular level for both drug developers and clinicians in oncology,” says Dr. Rothman, who also serves as the Sterling Professor and Chair of the Department of Cell Biology at Yale University School of Medicine.

Epic Sciences, Inc. is developing and marketing novel diagnostics to guide therapy selection and monitor disease progression, personalizing and advancing the treatment and management 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. Using its full-service CAP/CLIA-accredited laboratory and research support services, Epic Sciences partners with leading pharmaceutical companies and major cancer centers around the world to improve patient outcomes.

Other funding news items can be found here.

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