Universal DX (UDX), a liquid biopsy firm, successfully closes a Series B financing round of approximately $70 million. Key highlights from the article include:
- Strategic Collaboration with Quest Diagnostics: As part of the financing round, Quest Diagnostics, one of the investors, announced a strategic collaboration with UDX. Through this partnership, Quest Diagnostics will exclusively offer UDX’s Signal-C colorectal cancer screening test in the United States.
- About the Signal-C Test: The Signal-C test developed by UDX employs next-generation sequencing technology to detect DNA fragments and methylation patterns in blood that are indicative of colorectal cancer. This test represents a significant advancement in non-invasive cancer screening methods.
- Upcoming Large-Scale Study and FDA Submission: UDX is planning a substantial 15,000-patient study across over 100 investigator sites to support a submission for approval of the Signal-C test to the US Food and Drug Administration (FDA). The testing for this study will be conducted at Quest’s oncology center of excellence in Lewisville, Texas.
- Previous Study Results: In a 1,000-patient study presented at Digestive Disease Week in May 2023, the Signal-C test showed a 93 percent sensitivity for detecting colorectal cancer and 54 percent sensitivity for detecting advanced adenomas, with an overall specificity of 92 percent.
- Statements from UDX and Quest Diagnostics: Juan Martinez Barea, chairman of UDX, emphasized the collaboration’s potential to make colorectal cancer screening more convenient, quality-driven, and accessible in the United States. Kristie Dolan, VP and general manager of oncology at Quest, highlighted UDX’s innovative approach to colorectal cancer screening through a simple blood test capable of detecting advanced adenomas.
The article underscores the significant progress in developing non-invasive, efficient methods for colorectal cancer screening, which could potentially transform cancer detection and management.