Subjects: FNC, PER
PreludeDxtm Closes $20 Million in Funding to Advance Growth Initiatives and Development of Its Precision Medicine Portfolio
Evidity Health Capital to Join Board of Directors
LAGUNA HILLS, Calif., March 22, 2022 /PRNewswire/-- Prelude Corporation (PreludeDxtm), a leader in molecular diagnostics and precision medicine for early-stage breast cancer, today announced that it has closed a $20 million funding round led by Evidity Health Capital and joined by existing and new investors. Alejandro Sanchez, Managing Director of Evidity Health Capital, will be joining PreludeDx's Board of Directors. Proceeds from this round will be used to advance the commercial market expansion of DCISionRT® and the continued development of the company's precision radiogenomics platform for early-stage breast cancer and other cancers.
"We are extremely excited to have Evidity Health Capital as an equity partner, and to have the addition of Alejandro to our board," said Dan Forche, President and CEO of PreludeDx. "They share our vision of creating real value for patients, physicians and the overall healthcare system. Alejandro and the Evidity team bring a tremendous amount of strategic expertise in advancing medical technology companies and have a significant background in precision diagnostics and breast cancer.
"PreludeDx is an innovator within precision medicine for early-stage cancers and at a growth inflection point, making it an ideal and synergistic investment addition to our portfolio," said Alejandro Sanchez. "Evidity is committed to supporting PreludeDx's continued growth and maintaining its strong track record of bringing value to patients and shareholders."
About DCISionRT for Breast DCIS
DCISionRT is the only risk assessment test for patients with ductal carcinoma in situ (DCIS) that predicts radiation therapy benefit. Patients with DCIS have cancerous cells lining the milk ducts of the breast, but they have not spread into surrounding breast tissue. In the US, over 60,000 women are newly diagnosed with DCIS each year. DCISionRT, developed by PreludeDx on technology licensed from the University of California San Francisco, and built on research that began with funding from the National Cancer Institute, enables physicians to better understand the biology of DCIS. DCISionRT combines the latest innovations in molecular biology with risk-based assessment scores to assess a woman's individual tumor biology along with other pathologic risk factors and provide a personalized recurrence risk. The test provides a Decision ScoreTM that identifies a woman's risk as low or elevated. Unlike other risk assessment tools, the DCISionRT test combines protein expression from seven biomarkers and four clinicopathologic factors, using a non-linear algorithm to account for multiple interactions between individual factors in order to better interpret complex biological information. DCISionRT's intelligent reporting provides a woman's recurrence risk after breast conserving surgery alone and with the addition of radiation therapy. In turn, this new information may help patients and their physicians to make more informed treatment decisions.
About PreludeDx
PreludeDx is a leading personalized breast cancer diagnostics company dedicated to serving breast cancer patients and physicians worldwide. Founded in 2009 with technology licensed from University of California San Francisco, PreludeDx has focused on developing precision breast cancer tools that will impact a patient's treatment decision. Our mission is to provide patients and physicians with innovative technologies that improve patient outcomes and reduce the overall cost burden to the healthcare system. Before making a treatment decision, Know Your RiskTM. PreludeDx is a Fjord Ventures portfolio company.
For more information on how PreludeDx is making a difference for patients, please visit the Company's website: https://preludedx.com and follow us on Twitter @PreludeDx, Facebook, Instagram and LinkedIn.
PreludeDx, the PreludeDx logo, DCISionRT, the DCISionRT logo, Decision Score, The DCIS Test, Know Your Risk and Your Biology, Your Decision are trademarks of Prelude Corporation or its wholly owned subsidiaries in the United States and foreign countries.
About Evidity Health Capital
Evidity Health Capital is a late-stage venture capital and growth equity firm. It specializes in medical devices, in vitro diagnostics, and disruptive digital health private companies with commercialized products that need growth capital to achieve profitability.
Media Contact
Cory Dunn
760.705.7464
[email protected]
Investor Contact
Andrew Wade
949.294.1274
[email protected]
SOURCE PreludeDx
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