BURLINGTON – Labcorp joins five other investors in backing a California-based startup focusing on early cancer detection and blood testing to detect minimal residual disease monitoring.
The $48 million investment in Foster City-based Adela was announced Monday.
“Adela’s genome-wide platform expands the potential opportunity for MRD [minimal residual disease] testing through a novel methylome approach,” said Shakti Ramkissoon, Head of Medicine for Oncology at Labcorp. “Bringing this highly differentiated offering to market means oncologists and patients will have a better understanding of MRD and how it impacts patients with cancer. Additionally, Adela’s work on multi-cancer early detection is exciting and has the potential to revolutionize the way early-stage cancer is detected.”
The company also named an interim CEO (Lisa Alderson).
Other investors includeF-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital, and RA Capital Management To date Adela has raised $108 million.
Read more about the deal online.