Adela Health Raises $48Mn Funding to Boost Cancer Detection Technologies

California-based Adela Health, a healthcare startup specialising in blood testing for minimal residual disease monitoring and early cancer detection, has secured $48 million in financing.

The funding round saw participation from existing investors F-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital, and RA Capital Management, along with Labcorp, a global leader in laboratory services. 

This latest funding brings the total capital raised by Adela to $108 million.The funds raised will be directed towards advancing Adela's technology platform and launching their first product for minimal residual disease (MRD) monitoring.

Adela's MRD monitoring product is tissue-agnostic and utilises a genome-wide methylome enrichment platform. This innovative approach efficiently captures extensive genomic information, providing valuable insights for better treatment decisions and improved performance of diagnostic tests. 

"We are excited to grow Adela to the next level with this new financing and the addition of Ms. Alderson's expertise in commercializing healthcare products and scaling growth companies," said David Scheer, chairman of Adela's Board of Directors. 

Moreover, the proceeds will fuel the ongoing development of a multi-cancer early detection (MCED) product based on this cutting-edge platform.

Lisa Alderson, a healthcare professional with over 20 years of experience, has been appointed Adela's interim chief executive officer (CEO), succeeding Dr Scott Bratman. 

Dr Bratman will continue to serve as a member of Adela's Board of Directors and President. Lisa Alderson has a proven track record of leading early-stage companies in the healthcare and technology sectors.

Adela's approach to MRD testing is tissue-agnostic, eliminating the burden of acquiring a tumor sample. Their genome-wide methylome enrichment platform offers a comprehensive view of the methylome, significantly enhancing the opportunities to detect cancer signals in the blood. 

This advancement enables improved prognostic and predictive abilities, patient dynamic monitoring over time, and more effective cancer care.