New cancer diagnostic gets finance

Thursday 8 July 2021

United States

A US company developing models of cancer tumours derived from the tissues of actual patients has received $70 million in Series A financing in order to advance its diagnostic technology. Xilis Inc of Durham, North Carolina has taken the concept of the organoid, a miniaturised organ, and adapted it to oncology. The financing was led by Mubadala Capital with participation by the new investors GV (formerly Google Ventures) and Life Sciences Partners (LSP) as well as existing investors.