Geneoscopy Raises $105 Million in Series C Funding

Geneoscopy, a life sciences company specializing in diagnostic tests for gastrointestinal health, has raised $105 million in a new Series C funding round.

Leading this round was publicly traded Bio-Rad Laboratories with participation from Petrichor, Labcorp, Morningside Ventures, Lightchain Capital, NT Investments, Granger Management and Mercy Health, and Tri Locum Partners.

Geneoscopy is a life sciences company that specializes in diagnostic tests aimed at improving gastrointestinal health. The new capital will support Geneoscopy’s flagship product, ColoSense, an FDA-approved, stool-based colorectal cancer screening test designed for non-invasive early detection of cancer and advanced adenomas in individuals over the age of 45.

Founded in 2015 by CEO Andrew Barnell and Erica Barnell, Geneoscopy is headquartered in St. Louis, Missouri. The company collaborates with academic institutions and biopharmaceutical companies to enhance its pipeline.

Geneoscopy’s stool-based RNA biomarker platform is designed to enable accurate diagnostics by analyzing eukaryotic RNA (seRNA) extracted from stool samples. Eukaryotic RNA is a molecule found in the cells of organisms with a nucleus, such as humans, and plays a key role in processes like protein production and gene regulation. Analyzing this RNA can reveal patterns associated with diseases, making it useful for diagnostics like detecting cancer.

Geneoscopy’s RNA biomarker approach focuses on identifying biomarkers associated with colorectal cancer, providing a non-invasive option for early detection. When integrated with Bio-Rad’s Droplet Digital PCR (ddPCR) the ColoSense test is optimized for both sensitivity and specificity, aiming to reliably detect colorectal cancer and high-risk precancerous lesions.

Bio-Rad’s ddPCR technology is a precise method for measuring DNA or RNA in a sample. It works by dividing the sample into thousands of tiny droplets, amplifying target genetic material in each droplet, and analyzing the results to provide accurate and sensitive quantification, even for very low levels of genetic material.

To ensure broad access and adoption, Geneoscopy is collaborating with publicly traded Labcorp (NYSE: LH), a diagnostics and laboratory services provider. This partnership focuses on incorporating ColoSense into routine colorectal cancer screening programs, making it available to healthcare providers and patients as a practical alternative to more invasive diagnostic methods.

“This past year, we achieved many significant milestones, most notably FDA approval of ColoSense,” said Mr. Barnell. “We are extremely pleased to secure this financing, which reflects investor confidence in the potential of our RNA technology to address unmet needs in colorectal cancer and inflammatory bowel disease. This continued support will enable us to deliver innovative solutions that prioritize patient well-being and shape the future of gastrointestinal health.”

“As a leader in clinical diagnostics and digital biology, Bio-Rad’s mission is to advance science and save lives by improving healthcare outcomes,” said Norman Schwartz, the CEO of Bio-Rad Laboratories. “Geneoscopy’s ColoSense screening test is designed for use with Bio-Rad’s QXDx ddPCR platform and demonstrates remarkable sensitivity in detecting colorectal cancer and advanced adenomas. With this investment, we look forward to supporting Geneoscopy’s development and commercialization efforts while advancing our Droplet Digital PCR platform as a foundational technology for oncology applications across the clinical diagnostics and translational research markets.”

Bio-Rad Laboratories (NYSE: BIO) is a life sciences research and clinical diagnostics company that operates a network of research, manufacturing, and sales facilities worldwide with more than 7,700 employees. The company, led by CEO Norman Schwartz, was founded in 1952 by David and Alice Schwartz and is headquartered in Hercules, California, located 20 miles north of Oakland.