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Thrive Earlier Detection Raises USD 257 Million in Series B
The company’s vision is to incorporate its blood test, CancerSEEK, into routine medical care and detect more cancers at earlier stages when they can be more effectively treated and, in many cases, cured.
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CIO Applications | Thursday, August 06, 2020

The company’s vision is to incorporate its blood test, CancerSEEK, into routine medical care and detect more cancers at earlier stages when they can be more effectively treated and, in many cases, cured.
FREMONT, CA: Cambridge-based Thrive Earlier Detection, a company dedicated to extending and saving lives by incorporating earlier cancer detection into routine medical care, secured USD 257 million in a Series B funding round led by Casdin Capital and Section 32, with participation from new investors Bain Capital Life Sciences, Brown Advisory, Driehaus Capital Management, Intermountain Ventures, Janus Henderson Investors, Lux Capital, Moore Strategic Ventures, Perceptive Advisors, Rock Springs Capital, Sands Capital, funds and accounts advised by T. Rowe Price Associates, Inc., and other undisclosed investors. All of the company’s Series A investors returned to participate in the latest financing round. Thrive also announced the appointment of Eli Casdin to its Board of Directors.
“Since our founding in 2019, Thrive has continued to make tremendous progress in our pursuit towards changing the face of cancer,” said David J. Daly, chief executive officer of Thrive. “In April, we published data from the first ever prospective and interventional study of a multi-cancer screening test in an asymptomatic population. Our blood test more than doubled the number of cancers first detected by screening, enabling better outcomes and, in some cases, potential cure for these patients. With this financing, we are well-positioned to advance our test into a robust registrational trial and continue to work closely with key stakeholders to remove barriers to ensure timely access, including future reimbursement for CancerSEEK.”
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The company’s vision is to incorporate its blood test, CancerSEEK, into routine medical care and detect more cancers at earlier stages when they can be more effectively treated and, in many cases, cured. A vast majority of the people today are diagnosed with cancer only after symptoms appear, often coinciding with late-stage, metastatic disease, and poor outcomes. CancerSEEK, used in combination with standard-of-care screening tests has the potential to shift this paradigm to a new reality where the majority of cancers, including many with no screening options today, are diagnosed through screening and at earlier stages.
“We are proud to partner with a diverse group of world class investors who share in our vision to make earlier detection of cancer an accessible and affordable part of our healthcare system,” said Steven J. Kafka, Ph.D., chairman of Thrive and managing partner at Section 32. “We are also thrilled to welcome Eli Casdin to our board of directors. Eli has deep and broad expertise in diagnostics and biotech, and he will provide tremendous value to Thrive.”
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