Exact Sciences Corp. (Nasdaq: EXAS) and Thrive Earlier Detection Corp. (“Thrive”), a healthcare company dedicated to incorporating earlier cancer detection into routine medical care, today announced they have entered into a definitive agreement under which Exact Sciences will acquire Thrive for cash and stock consideration of up to $2.15 billion.
All told, the five most active firms have backed 24 startups that range from early stage to pre-initial public offering. Some are tackling fertility and direct-to-consumer treatments, while others are looking to rethink hospital operations and IT. One of the 5 most active firms, Section 32 invested in Freenome, Evidation Health, Thrive Earlier Detection, Sema4, and Vineti.
6 top VCs share why an often-neglected part of the biotech industry is set to take off in the next 12 months
“We’re so reactionary in our healthcare system with the therapeutics we’re building,” Section 32 managing partner Steve Kafka said of one of his picks, Thrive Earlier Detection. “The opportunity here is to shift our way of thinking to more upfront prevention and use data to get out in front of healthcare problems.”
Glympse is working on developing a new way to measure the liver condition NASH and has already completed some human trials of its approach. The hope is to find a less-invasive way to screen for the condition.
“What Glympse is doing is creating a synthetic biomarker,” Kafka said.
News from @thrivedetect : Series B, new investors, and progress towards a breakthrough cancer detection blood test.
“COVID-19 has only made it clearer that the tools for living a healthy and good life are not fairly or humanely distributed. Recent global events have shined a light on how important Section 32’s mission is.” said Bill Maris, founder of Section 32.
When I started Section 32 three years ago, I wanted to create a venture fund that could focus on areas where technology can make a real difference on the most important aspects of our lives.
My last job before Section 32 was as founder and CEO at Google Ventures, and even though I loved my time there, I saw a need for a different type of fund […]