Predicta Biosciences Secures $23.4M to Scale its Novel Diagnostic and Analytics Platform for Blood Cancers and Autoimmune Diseases
Brian McKernan joins as CEO to further advance Predicta's clinical impact, including its non-invasive diagnostic for Multiple Myeloma
Predicta Biosciences, a precision oncology company developing novel diagnostic and therapeutic discovery solutions, today announced it has raised an oversubscribed $23.4 million Series A led by Engine Ventures. Additional participating investors include Illumina Ventures, Lightchain Capital, Mass General Brigham Ventures, ACS BrightEdge, Binney Street Capital of Dana-Farber Cancer Institute and Myeloma Solutions Fund. The capital will be used to expand Predicta's team and CLIA-approved lab infrastructure, and advance commercialization of the company's first test, GenoPredicta and further development of other non-invasive diagnostic solutions for blood cancers and autoimmune diseases. In addition to the successful raise, Predicta also announced the appointment of Brian McKernan as CEO.
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Predicta Biosciences' CEO Brian McKernan
"It's an honor to join Predicta and our strong team of leading oncologists, scientists and proven operators using leading-edge genomics to help patients on a diagnostic and therapeutic basis today," said McKernan. "Predicta is already allowing clinicians to better understand and predict multiple myeloma patients' conditions, and how they might respond to different treatment options. Ultimately, Predicta's goal is to expand beyond diagnostics, and this funding will accelerate our path to bringing new precision therapeutics to market by leveraging our one-of-a-kind genomic and immune profiling data."
McKernan is a three-time biotech founder and experienced CEO, having most recently served as CEO at Fluent BioSciences, which was acquired by Illumina (NASDAQ:ILMN) last year. Several of his companies were significant contributors to the NHGRI's Human Genome Project, as well as key participants in the global effort to curate gene mutation associations for neurological disease conditions. McKernan previously served as the Chairman of the Board of the Analytical Life Sciences and Diagnostic Association and holds an MBA in Finance from Columbia Business School.
"In the era of precision therapeutics, there is an urgent need for equally precise diagnostics in multiple myeloma and other blood cancers. While many patients are now receiving advanced immunotherapies such as CAR-T cells and bispecific antibodies, clinicians often lack critical insights into the mutation or deletion status of key targets like BCMA or GPRC5D before initiating treatment. Having this knowledge upfront can be transformative - allowing physicians to identify patients unlikely to respond, avoid unnecessary toxicity, and ensure therapies are directed where they will have the greatest impact," said Irene Ghobrial, MD, co-founder of Predicta.
Predicta's mission is to overcome the numerous limitations in the diagnosis and prognosis of common blood cancers and autoimmune diseases. For blood cancers with no cure, including multiple myeloma, accurate and sensitive testing options for early detection have remained out of reach. In April, Predicta launched its first Laboratory Developed Test (LDT): GenoPredicta, which can use either peripheral blood or bone marrow, and can be ordered by physicians to molecularly diagnose individuals who have or are at risk for multiple myeloma and inform therapeutic management. Predicta is already collaborating closely with leading providers and patient advocacy groups, including the HealthTree Foundation.
"Predicta stands out among early-stage biotech companies because of its immediate clinical impact and its enormous future potential," said Ann DeWitt, General Partner at Engine Ventures and Predicta Board member. "With Brian McKernan's deep experience in commercializing scientific innovation—combined with the founding team's world-class clinical, genomic, and analytical expertise, we're entering a new phase of growth to meet the urgent unmet needs of patients living with blood cancers and autoimmune conditions."
About Predicta Biosciences
Founded by leading cancer genomics researchers and clinicians, Predicta is a precision oncology company developing novel diagnostic and therapeutic products. The company's non-invasive diagnostics initially focus on multiple myeloma, equipping physicians with the unique ability to determine the likelihood of a patient responding to immunotherapies. For more information, visit www.predictabiosciences.com
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