Credit: KTSDESIGN/SCIENCE PHOTO LIBRARY/Getty ImagesTouting what the institution contends is the astir delicate liquid biopsy ctDNA trial for coagulated tumor MRD detection, Haystack Oncology announced the closing of a $56 cardinal Series A backing circular that volition assistance it bring that trial to marketplace successful 2023. The financing was led by Catalio Capital Management, which co-founded Haystack done its backstage equity and structured equity concern vehicles, with further investors Bruker, Exact Ventures—the task limb of Exact Sciences—and Alexandria Venture Investments.
Haystack, which was founded successful 2021 by noted crab researcher Bert Vogelstein of the Johns Hopkins Medical School and Sidney Kimmel Comprehensive Cancer Center, on with Johns Hopkins colleagues Kenneth Kinzler and Nickolas Papadopoulos, builds upon 2 decades of probe of liquid biopsy technologies to observe the smallest traces of cancer, oregon minimal residual illness (MRD). Haystack isn’t the archetypal oncology- and liquid biopsy-focused molecular diagnostics institution launched by the Hopkins team. Vogelstein and Kinzler were progressive successful the motorboat of Exact Sciences and the CancerSEEK liquid biopsy trial developed by the trio astatine Hopkins was the halfway portion of Thrive Earlier Detection which hauled successful a $110 cardinal investment successful 2019 from Third Rock Ventures. Thrive was helmed by Steven Kafka of concern steadfast Section 32, who is besides the erstwhile president and COO of Foundation Medicine. Thrive was aboriginal scooped up by Exact Science successful a deal that topped $2 billion.
At Haystack, the trio and absorption squad are focused connected providing the astir close measurement of MRD to let clinicians to respond earlier with targeted therapies for residual and recurrent crab utilizing panels individualized for each patient. Its exertion level is called the Haystack Duo, and takes a tumor-informed attack to identifying the patient-specific tumor mutations for MRD detection. According to the company, its diagnostic trial tin observe arsenic fewer arsenic 1 mutant molecule among a cardinal DNA molecules.
“Detecting MRD has agelong been akin to looking for a needle successful a haystack—we’re searching for a tiny fig of tumor-derived DNA molecules successful a oversea of mean molecules successful a humor sample,” noted Haystack president and CEO Dan Edelstein. “If residual illness is detected, the diligent travel tin beryllium transformed to greatly amended the likelihood of objective benefit, and ultimately, prevention lives.”
Co-founder Edlestein is joined successful the C-suite by CTO and co-founder Frank Holtrup. Both Edelstein and Holtrup bring heavy acquisition successful the field, having served successful elder absorption roles astatine PCR-based liquid biopsy institution Sysmex Inostics. Additions to the Haystack Board of Directors arsenic a effect of the caller financing see Isaac Ro, erstwhile CFO of Thrive Earlier Detection, arsenic good arsenic Catalio’s founders, George Petrocheilos and Jacob Vogelstein.
“Haystack’s ngo is to present earlier, much precise detection of residual and recurrent tumors to personalize therapy and dramatically amended outcomes for patients with cancer,” added Edelstein. “With the assistance of this funding, combined with Haystack’s genuinely differentiated exertion backed by decades of liquid biopsy research, we are uniquely positioned to guarantee that the close patients person the close attraction astatine the close time, which has agelong been the imaginativeness of precision oncology.”
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