Diagnostics firm Geneoscopy has announced new funding of $105 million, led by Bio-Rad Laboratories, to support the launch of non-invasive colorectal cancer screening test ColoSense, and advance diagnostic innovations for inflammatory bowel disease.
The capital injection positions the company to achieve key milestones, including the launch and commercialisation of Geneoscopy’s at-home, stool-based colorectal cancer screening test, ColoSense (pictured above). The funding also enables the company to continue investing in its innovative pipeline of diagnostic tests for inflammatory bowel disease, addressing a critical unmet medical need.
Geneoscopy’s novel platform for isolating human RNA from stool samples, combined with the high sensitivity and specificity of Bio-Rad’s Droplet Digital PCR (ddPCR) technology, allows for highly effective screening and detection of colorectal cancer. Further, Geneoscopy and Labcorp will work together to provide broad availability of ColoSense, enabling US-based healthcare providers to conveniently order the test as part of their comprehensive screening programs.
“This past year, we achieved many significant milestones, most notably FDA approval of ColoSense,” said Andrew Barnell, CEO and co-founder of Geneoscopy. “We are extremely pleased to secure this financing, which reflects investor confidence in the potential of our RNA technology to address unmet needs in colorectal cancer and inflammatory bowel disease. This continued support will enable us to deliver innovative solutions that prioritise patient well-being and shape the future of gastrointestinal health.”
Norman Schwartz, CEO of Bio-Rad Laboratories, stated: “As a leader in clinical diagnostics and digital biology, Bio-Rad’s mission is to advance science and save lives by improving healthcare outcomes. Geneoscopy’s ColoSense screening test is designed for use with Bio-Rad’s QXDx ddPCR platform and demonstrates remarkable sensitivity in detecting colorectal cancer and advanced adenomas. With this investment, we look forward to supporting Geneoscopy’s development and commercialisation efforts while advancing our Droplet Digital PCR platform as a foundational technology for oncology applications across the clinical diagnostics and translational research markets.”