Irving-based next-generation AI techbio company Caris Life Sciences has closed a growth capital funding round of $168 million. With the new funding, Caris said it has raised $1.86 billion in capital since 2018.
Brian J. Brille
Braidwell LP, a Stamford, Connecticut-based life science-focused investment firm and an existing investor, led the financing with participation from new investors Perceptive Advisors, Woodline and Ghisallo, along with additional new investors. Several existing investors are also participating in the round including Millennium Management and First Light Asset Management, Caris said.
“This financing includes participation by some of the most knowledgeable healthcare investors with deep domain expertise and appreciation of the Caris platform and opportunity,” Brian J. Brille, vice chairman and EVP of Caris, said in a statement. “We’re proud to partner with our high-quality and diverse investor syndicate, which shares our mission to improve patient outcomes.”
“Caris puts the patient at the center of everything we do. This raise will help us bring our market-leading science and technologies to as many patients as possible and further our goal of revolutionizing precision medicine,” Caris founder and CEO David Halbert said in a statement. “We plan to unlock the full potential of precision medicine by comprehensively interrogating cancer at the molecular level and enabling the delivery of transformative applications of molecular science.”
Braidwell Partner Narendra Nayak said said that Caris is a well-positioned company
“We’re pleased to continue our relationship with Caris, and we believe Caris is well-positioned as a precision medicine leader in this dynamic sector,” Nayak said in a statement. “Caris has continued to advance its position among physicians, patients and biopharma partners as a trusted provider, molecular science leader and innovator.”
After receiving FDA approval, Caris recently launched MI Cancer Seek, the first and only simultaneous Whole Exome and Whole Transcriptome Sequencing-based assay with FDA-approved CDx indications for molecular profiling of solid tumors for adult and pediatric patients. Also, Caris commercially launched Caris Assure for therapy selection in 2024.
Caris said it was founded with a vision to realize the potential of precision medicine in order to improve the human condition. Caris also has offices in Phoenix, New York, Cambridge, Massachusetts, Tokyo, Japan and Basel, Switzerland.
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