The Life Sciences and Technology teams advised Mercy BioAnalytics on the closing of a $59 million series B financing. The round was co-led by Novalis and Sozo Ventures, with participation from Perceptive Xontogeny Venture Funds, American Cancer Society BrightEdge, and iSelect Fund, as well as funds committed to women’s health and leadership including Portfolia, Avestria Ventures, and Mindshift Capital. The round also included significant participation from strategic investors including Hologic, Bruker Scientific, and Labcorp. The financing will support the commercialization of Mercy’s blood-based ovarian cancer test portfolio, designed to detect ovarian cancer at earlier, more treatable stages across multiple indications.
Mercy BioAnalytics, Inc. is on a mission to relieve suffering and save lives through the early detection of cancer. Early-stage cancer is difficult to detect, but when found, is more often amenable to curative therapy. The patented Mercy Halo™ liquid biopsy platform utilizes biomarker co-localization to interrogate highly abundant, blood-based extracellular vesicles that carry unique cancer signatures from their cell of origin. The Mercy Halo platform is designed to detect early-stage cancer, when it is most treatable, and enhance the quality of life for cancer patients and their families. Mercy’s initial focus is the early detection of ovarian and lung cancers. Ovarian cancer, the most lethal gynecological cancer, typically goes undetected until it is too late to cure. Lung cancer, the number one cancer killer globally, takes more lives than breast and prostate cancers combined.
The Goodwin deal team was led by Bill Schnoor, Matt Reardon, Kristen McCarthy, Austin Lorenzo, Christopher Denn, Alison Liou, James Matarese, Allison Goldsher, and Bryan Snyder.
For more information about the deal, please read the press release.