Precision medicine pioneer Caris Life Sciences has secured $168 million in a new growth capital funding round, bringing the company's total capital raised since 2018 to an impressive $1.86 billion. The financing was led by existing investor Braidwell LP, with participation from new investors including Perceptive Advisors, Woodline, and Ghisallo, alongside existing investors Millennium Management and First Light Asset Management.
The Irving, Texas-based company plans to use the funds to expand access to its advanced molecular profiling technologies and further develop its AI-driven precision medicine platform, which focuses on comprehensive cancer analysis at the molecular level.
"This financing includes participation by some of the most knowledgeable healthcare investors with deep domain expertise and appreciation of the Caris platform and opportunity," said Brian J. Brille, Vice Chairman and EVP of Caris. "We are proud to partner with our high-quality and diverse investor syndicate, which shares our mission to improve patient outcomes."
Recent Product Launches Strengthen Market Position
The funding announcement follows significant product milestones for Caris. The company recently received FDA approval and launched MI Cancer Seek®, described as the first and only simultaneous Whole Exome and Whole Transcriptome Sequencing-based assay with FDA-approved companion diagnostic (CDx) indications for molecular profiling of solid tumors in both adult and pediatric patients.
Additionally, Caris commercially launched Caris Assure™ for therapy selection in 2024. This minimally invasive, blood-based assay employs a novel circulating Nucleic Acid Sequencing (cNAS) approach that analyzes cell-free DNA and RNA from plasma, as well as genomic DNA and messenger RNA from circulating white blood cells. The technology can distinguish between somatic tumor mutations, incidental clonal hematopoiesis, and incidental germline variants, providing critical information for treatment decisions.
Strategic Vision for Precision Medicine
David D. Halbert, Chairman, Founder and CEO of Caris, emphasized the company's patient-centered approach: "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."
Halbert added that the company aims 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."
Investor Confidence in Caris's Technology Platform
The substantial investment reflects strong confidence in Caris's technological approach and market position. Narendra Nayak, Braidwell Partner, expressed continued support for the company: "We are pleased to continue our relationship with Caris, and we believe Caris is well-positioned as a precision medicine leader in this dynamic sector. Caris has continued to advance its position among physicians, patients and biopharma partners as a trusted provider, molecular science leader and innovator."
AI-Driven Approach to Molecular Profiling
Caris has established itself as a leading next-generation AI TechBio company by combining comprehensive molecular profiling with advanced artificial intelligence and machine learning algorithms. This approach has enabled the creation of a large-scale, multimodal database with the computing capability needed to analyze and unravel the molecular complexity of disease.
The convergence of sequencing power, big data, and AI technologies provides Caris with a differentiated platform to deliver precision medicine tools for early detection, diagnosis, monitoring, therapy selection, and drug development.
Global Presence and Future Outlook
Founded with a vision to realize the potential of precision medicine to improve human health, Caris has expanded its global footprint beyond its Texas headquarters to include offices in Phoenix, New York, Cambridge (Massachusetts), Tokyo, and Basel, Switzerland. The company provides services in the U.S. and other international markets through direct operations and distributor partnerships.
The new funding is expected to accelerate Caris's market penetration and technological development, potentially reshaping how cancer is diagnosed and treated through more precise, personalized approaches based on comprehensive molecular analysis.
