Haystack Oncology, a digital oncology and cancer detection company, has raised $56 million in series A financing.
The company plans to use the financing to expand the accessibility of its Haystack Duo testing service. The financing round was led by Catalio Capital Management, the venture capital group that co-founded Haystack through its private equity, according to a Nov. 16 Haystack news release.
The company's testing services work to detect MRD, residual tumor DNA molecules left in the body after treatment.
"Detecting MRD has long been akin to looking for a needle in a haystack — we're searching for a small number of tumor-derived DNA molecules in a sea of normal molecules in a blood sample. If residual disease is detected, the patient journey can be transformed to greatly improve the likelihood of clinical benefit, and ultimately, save lives," Haystack President and CEO Dan Edelstein said.