ClearNote Health Raises $52M in Series D Funding

The round also saw participation from former CEO and chairman of Citigroup Sandy Weill, ClearNote Health co-founder Dr. Stephen Quake of Stanford University, a large Seattle-based family office, and other U.S. and international-based institutional investors. The funding round increased the total amount raised to $185 million.

The company plans to use the funds to support commercial growth, expand operations, carry out clinical studies, and continue product development.

ClearNote Health is expanding its leadership team as it builds on the success of its upgraded Avantect Pancreatic Cancer Test. The Avantect tests are simple blood-based cancer detection tests that use a multiomic approach and machine learning technology. With high sensitivity and specificity, the tests help doctors detect early-stage cancers sooner and make faster, better-informed treatment decisions.

Mr. Keegan brings nearly 30 years of experience in the clinical diagnostics industry, with leadership roles in operations, commercial strategy, and general management. Before joining ClearNote Health, he held senior positions at BD, Illumina, and Hologic. At Illumina, he served as general manager of oncology and led the launch of one of the world’s most widely used tumor profiling tests.

“I invested early because I believed ClearNote Health was tackling one of the most important challenges in healthcare,” said Mr. Westman. “The potential to detect cancer earlier through epigenomic signals in blood is incredibly compelling and the team has continued to execute with focus, scientific rigor and a real sense of purpose. The progress they have made so far has only strengthened my belief in what the company can achieve.”

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“This Series D financing validates our strong commercial momentum and differentiated platform, as well as the tremendous market opportunity in early cancer detection,” said Dave Mullarkey, CEO of ClearNote Health. “We are also thrilled to welcome Kevin, a proven industry leader with deep expertise in molecular diagnostics and oncology. His operational and commercial leadership will be instrumental as we scale our organization, expand globally, and increase access to our portfolio of early cancer detection tests for patients at elevated risk.”

“During my career, I have focused on expanding access to genomics-based oncology diagnostic tools,” said Mr. Keegan. “ClearNote Health has a purpose-built platform that has the potential to fundamentally improve outcomes for patients at elevated risk of cancer by diagnosing disease earlier. I’m excited to join this talented team and to help drive the company’s next growth phase.”

About ClearNote Health

Founded in 2016, ClearNote Health is a private company focused on improving the early detection and monitoring of some of the deadliest cancers. The company’s patented Virtuoso™ epigenomics platform, developed from research in Stanford University’s Stephen Quake laboratory, uses artificial intelligence and bioinformatics to detect biological differences between cancer cells and healthy cells through a blood sample. Its noninvasive Avantect® pancreatic and ovarian cancer tests are designed to help identify cancer earlier in high-risk patients, when treatment may be more effective.

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