A new Cambridge, Mass.-based startup, Thrive Earlier Detection (“Thrive” for short), has raised $110 million to develop a much-watched blood test that aims to detect cancer when it is still soon enough to remove it.
The company, whose existence STAT first reported on May 8, is entering a crowded field flooded with money. Grail, based in San Francisco, has raised $1.5 billion on a similar effort. According to Pitchbook, Grail is valued at $3.1 billion, and it will present data at cancer meeting this weekend. Other companies, including Guardant and Exact Sciences (one of Thrive’s investors) have expressed interest in the field of cancer detection via blood test, known as liquid biopsy.