Caris Life Sciences, which offers an AI-powered precision medicine platform focused on oncology, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The company is developing and commercializing a platform meant to incorporate next-generation sequencing, artificial intelligence, and machine learning technologies to develop precision medicine diagnostic solutions meant to treat cancer. Caris Life Sciences states that its platform is based off of a data set with more than 6.5 million tests, run on over 849,000 cases, and has generated measurements of over 38 billion molecular markers. Its current commercial product portfolio is focused on oncology and consists of MI Profile, a tissue-based molecular profiling solution that has generated the majority of its revenue to date, and Caris Assure, a blood-based molecular profiling solution that was broadly launched in the first quarter of 2024 for therapy selection.
The Irving, TX-based company was founded in 2008 and plans to list on the Nasdaq under the symbol CAI. Caris Life Sciences filed confidentially on June 10, 2024. BofA Securities, J.P. Morgan, Goldman Sachs, Citi, TD Cowen, Evercore ISI, Guggenheim Securities, BTIG, and Wolfe Trahan Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.