Caris Life Sciences, a molecular science and technology company, has announced that it has closed a senior secured term loan providing up to $400 million in capital from OrbiMed and Braidwell.
The company actively develops and delivers innovative solutions to revolutionize healthcare.
Caris will use the proceeds to repay outstanding debt, enhance its pioneering precision medicine platform, and for general corporate purposes.
Caris' comprehensive molecular profiling approach precisely analyzes DNA, RNA and protein biomarkers to reveal a patient's molecular blueprint for selecting the most appropriate therapies. Caris uses highly sophisticated AI and machine learning to identify proprietary signatures to classify cancer at the molecular level and predict patient response.
In 2022, Caris introduced Caris Assure, a blood-based molecular profiling assay that uses a novel circulating nucleic acids sequencing (cNAS) approach to provide deep molecular insights from a simple blood sample. Caris Assure offers a minimally invasive liquid biopsy option for biomarker analysis and serial monitoring of cancer patients.
The company is also advancing cancer care with biopharma partners through Caris Discovery, a proprietary, multi-omics target discovery engine designed to identify novel targets for drug development.
With this funding, Caris has raised approximately $1.7 billion in capital since 2018.
Join the HealthXL Masterclass on ‘How to Make Value-Based Health Care (VBHC) work with Digital Health?’ on 2nd February. Click here to Request to Join.
Click here to read the original news story.