adela, inc.The company, a blood testing innovator that uses a genome-wide methylome approach for minimal residual disease surveillance and early cancer detection, recently announced the closing of a $48 million funding round.
The $48 million funding round includes existing investors F-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital and RA Capital Management, as well as new investors Labcorp, a global leader in innovative and integrated laboratory services. So far, the company's total financing has reached 1$0.8 billion.
Proceeds from the financing will be used to advance the development of ADELA technology platform and the commercialization of ADERA's first MRD monitoring product. ADELA's tissue-diagnostic MRD monitoring products are based on its genome-wide methylome enrichment platform, which effectively captures a wide range of biologically relevant genomic information to maximize test performance and improve decision-making. The proceeds will also be used to continue the development of the company's multi-cancer early detection (MCED) products based on the same platform.
Lisa Alderson has been appointed interim CEO of ADEA. Ms. Alderson is a seasoned leader and operator with more than 20 years of experience creating early-stage companies at the intersection of technology and healthcare, having served on the ADELA Board of Directors since early 2022.
Ms. Alderson co-founded and served as CEO of Genome Medical, a leading genomic services company that provides genomic care to a wide range of patients. In addition, she served as Chief Commercial Officer and Chief Strategy Officer at Invitae and was part of the startup team at Genomic Health.