Thrive will commercialise a blood test for multiple early-stage cancers based on research at Johns Hopkins University, following a series A round backed by Blue Cross and Blue Shield Association.

Thrive Earlier Detection, a US-based developer of a blood test for cancer, was spun out of Johns Hopkins University yesterday with $110m in series A funding from investors led by venture capital firm Third Rock Ventures. BlueCross BlueShield Venture Partners, the corporate venturing subsidiary of health insurer Blue Cross and Blue Shield Association, participated in the round, as did molecular diagnostics company Exact Sciences. Section 32, Casdin Capital, Biomatics Capital, Invus, Cowin Venture, Camden Partners, Gamma 3 and a series of undisclosed backers filled out the round. Thrive Earlier Detection will further advance and commercialise a blood test called CancerSeek that is capable of detecting multiple cancer types at an early stage. The test boasts a specificity of more than 99% and minimises false positives. CancerSeek was first unveiled in a paper published in Science magazine in February 2018, when it made international headlines and piqued the interest of the UK’s National Health Service. The test is based on research by three faculty members at Johns Hopkins University – Bert Vogelstein, the Clayton professor of oncology and pathology, Kenneth Kinzler, professor of oncology, and Nickolas Papadopoulos, also a professor of oncology. Thrive will integrate patient data and machine learning to further improve CancerSeek, which relies on analysing a combination of DNA and protein measurements. The test is currently undergoing a study in 10,000 healthy individuals and Thrive plans on conducting additional trials as it moves towards regulatory approval and inclusion in cancer screening guidelines as well as making the test eligible for reimbursement. Thrive has already secured Breakthrough Device designation from US regulator Food and Drug Administration for pancreatic and ovarian cancers. The company was established by Third Rock Ventures, and the firm’s partners Steven Kafka and Christoph Lengauer act as chief executive and chief innovation officer, respectively. Kafka said: “To be truly useful to patients, new medical technology must be developed with rigorous evidence and designed to be affordable and readily integrated into routine medical care. “With the help of experts and strategic partners, Thrive is launching today to advance a novel test for the earlier detection of multiple cancers, which we aim to augment with an integrated service that helps patients maneuver the often confusing path that follows a cancer diagnosis.”

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).