Inivata raises £39.8m in Series B funding led by RT Ventures
The financing round was led by RT Ventures and will support the US commercial roll-out of the company test.
Inivata is a clinical stage molecular diagnostics company focused on liquid biopsy applications. It operates laboratories in the UK and the US.
Inivata has completed a Series B financing round of £39.8m, led by RT Ventures. The funds will be directed towards advancing the US commercial roll-out of the InVisionFirst-Lung liquid biopsy test and expanding the platform into new oncology indications.
Participating backers in the oversubscribed round include existing investors Woodford Patient Capital Trust, IP Group, Cambridge Innovation Capital, and Johnson & Johnson Innovation, JJDC. The initial close took place in August 2018, with the final tranche secured following progress against corporate milestones.
From the founder
"This Series B financing allows us to commercialize our lead product in patients with advanced lung cancer, following our positive reimbursement decision. We also have an exciting portfolio of future products that will be advanced in parallel to maximize the benefits of our industry-leading InVision Liquid Biopsy platform to patients. We are grateful to our existing investors for their continued support and are delighted to welcome RT Ventures to our already strong investor base. With these funds in place, we look forward to continuing our mission to transform the lives of cancer patients through the power of liquid biopsy."
Clive Morris
Chief Executive Officer at Inivata
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
Investors
RT Ventures
Woodford Patient Capital Trust
IP Group
Cambridge Innovation Capital
Johnson & Johnson Innovation – JJDC