Cancer detection technology startup Adela Inc. has raised $48 million in fresh funding to advance its genome-wide methylation analysis platform for its innovative approach to minimal residual disease (MRD) monitoring and early cancer detection technology. The round will take the startup’s total funding to an impressive $108 million.
It is revolutionizing the field through its genome-wide methylome enrichment platform. The funding round saw participation from existing investors such as F-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital, and RA Capital Management.
Labcorp, a global leader in laboratory services, joined afresh. The funds will advance Adela’s technology platform. It will ease the commercialization of their MRD monitoring product. Further, it will help develop their multi-cancer early detection (MCED) offering.
What Does it Do?
- Application in early cancer detection, diagnosis, and management.
- Captures biologically-relevant genomic data to guide treatment decisions.
- Funding earmarked for technology advancement.
- Plans for commercialization of tissue-agnostic MRD product.
- Ongoing development of multi-cancer early detection product.
- Both products based on the methylation enrichment platform.
Elevating Cancer Detection with the Methylome Enrichment Platform
Adela’s genome-wide methylome enrichment platform is at the heart of their groundbreaking approach. This platform captures comprehensive, relevant genomic information, enhancing the performance of their tests.
“Adela’s genome-wide platform expands the potential opportunity for MRD testing through a novel methylome approach,” said Shakti Ramkissoon, M.D., Ph.D., Vice President and Head of Medicine for Oncology at Labcorp.
It is empowering more informed treatment decisions. What sets Adela apart is their meticulous isolation of the methylated regions of the genome through high-affinity enrichment. The process preserves more genomic sequencing material than traditional enzymatic or chemical treatments.
“Bringing this highly differentiated offering to market means oncologists and patients will better understand MRD and how it impacts patients with cancer. Adela’s work on multi-cancer early detection is exciting and can potentially revolutionize the way early-stage cancer is detected,” added Shakti Ramkissoon.
Meanwhile, the exhaustive view of the methylome broadens Adela’s capability to detect cancer signals in the blood. It helps in surpassing approaches that target narrower genomic regions. Moreover, it helps in better diagnosis, allowing dynamic monitoring of patients over time. Adela’s MRD testing approach is tissue-agnostic, eliminating the need for invasive tumor sampling.
Lisa Alderson: The New Leader at Adela’s Helm
Additionally, Adela appointed Lisa Alderson as interim Chief Executive Officer (CEO). She has over two decades of experience in building early-stage companies. She has co-founded and served as CEO of Genome Medical. It is a leading genomic care delivery company. Alderson also held pivotal positions at Invitae and was part of the startup team at Genomic Health.
Adela’s journey began in 2021 with a $60 million Series A funding round. Dr. Daniel De Carvalho, Adela’s Chief Scientific Officer, in collaboration with researchers from University Health Network’s Princess Margaret Cancer Centre and Sinai Health System investigators founded the platform. The pioneering work has placed Adela at the forefront of cancer detection technology.
A Global Landscape of Cancer Detection Advancements
The healthcare industry is witnessing a surge in innovative cancer detection approaches globally. Institutions like the Indian Institute of Technology in Madras have developed AI prediction tools to detect cancer-causing genes. At the same time, South Korean company Lunit employs AI software for cancer discovery and predicting treatment outcomes.
“We are excited to grow Adela to the next level with this new financing and the addition of Ms. Alderson’s expertise in commercializing healthcare products and scaling growth companies,” said David Scheer, Chairman of Adela’s Board of Directors. “We look forward to bringing Adela’s MRD offering to market so that it can benefit patients.”
Adela’s genome-wide methylation analysis technology is a promising addition to this landscape. It will offer new possibilities in the battle against cancer. Adela’s recent funding success will help the company to transform cancer detection and treatment.
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