Geneoscopy Closes $105 Million Series C Funding to Advance Gastrointestinal Diagnostics
Geneoscopy, a St. Louis-based life sciences company focused on gastrointestinal health diagnostics, has raised $105 million in its Series C funding round. The investment, led by Bio-Rad Laboratories, underscores the growing demand for innovative diagnostic solutions in colorectal cancer and inflammatory bowel disease (IBD).
The funding round also saw participation from prominent investors including Petrichor, Labcorp, Morningside Ventures, Lightchain Capital, NT Investments, Granger Management and Mercy Health, and Tri Locum Partners. This significant investment will enable Geneoscopy to accelerate the commercial launch of ColoSense®, its non-invasive colorectal cancer screening test designed to improve early detection rates.
Geneoscopy’s proprietary RNA technology sets it apart in the diagnostics field by allowing for the analysis of stool samples to detect RNA biomarkers associated with colorectal cancer and other gastrointestinal diseases. ColoSense® offers a non-invasive alternative to traditional colonoscopy, aiming to increase screening participation and reduce mortality rates through early diagnosis.
In addition to supporting the rollout of ColoSense®, the Series C funding will fuel the development of Geneoscopy’s pipeline of gastrointestinal diagnostic products, including advanced solutions for managing inflammatory bowel disease. These innovations aim to provide more accurate, timely, and personalized insights into gastrointestinal health.
CEO and co-founder Andrew Barnell highlighted the importance of the investment in advancing Geneoscopy’s mission to transform gastrointestinal diagnostics. He expressed confidence in the company’s RNA technology platform to address unmet needs in colorectal cancer screening and IBD management, ultimately improving patient outcomes.
With the new funding, Geneoscopy is well-positioned to expand its market presence, enhance its diagnostic offerings, and contribute to the growing field of precision medicine in gastrointestinal health. The company’s advancements are expected to play a crucial role in improving early detection, monitoring, and treatment of gastrointestinal diseases.
