Grail Raises $390M In Series D Financing To Advance Blood Cancer Test
Liquid biopsy company Grail raised $390m in a fourth round of financing, bringing the total funding to $1.9bn.
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Grail hopes to launch its Galleri test in 2021 as a laboratory developed test and submit a PMA to the US FDA in 2023.
Funding will accelerate an FDA registrational study of the company's first liquid biopsy product, as competition increases in early cancer detection.
A steady flow of venture capital into the medical device industry continued in the first half of 2020 despite the novel coronavirus pandemic. While Biopharma companies secured more than $7.5bn in private financings between January and June.