The startup, which spun out of genomics company Illumina announced it has closed a whopping $900 million in Series B funding this morning. Arch Venture Partners , a medical start-up that developed as an offshoot of genome sequencing giant Illumina , has closed a series B funding round of $100m . The company uses liquid biopsies and blood testing to develop early cancer detection technology while using current Illumina equipment. GRAIL had already raised $100m and the start-up is still aiming for a total of $900m , with reports of a $ 1.8bn target. The initial investment has come from several significant sources, including GRAIL and Johnson and Johnson , while Illumina has already announced plans to give the company more independence.
Arch Venture Partners , a medical start-up that developed as an offshoot of genome sequencing giant Illumina , has closed a series B funding round of $100m . The company uses liquid biopsies and blood testing to develop early cancer detection technology while using current Illumina equipment. GRAIL had already raised $100m and the start-up is still aiming for a total of $900m , with reports of a $ 1.8bn target. The initial investment has come from several significant sources, including GRAIL and Johnson and Johnson , while Illumina has already announced plans to give the company more independence.