Biofidelity completed a $12 million Series A financing from BlueYard Capital

Biofidelity, a Cambridge, UK-based company working for the development of a cancer diagnostics company, announced raising a $12 million Series A financing.

The round was led by BlueYard Capital and backed by investors including Longwall Ventures and Agilent Technologies.

The money will be used to fast-track the development of the company's technology.

Biofidelity, founded in 2019 by Barnaby Balmforth (CEO) and Cameron Frayling, provides clinically actionable data based on ultra-sensitive detection of the markers recommended in cancer treatment guidelines, enabling oncologists to prescribe the right cancer drug at the right time to many more patients. The company's technology aims to enable a dramatic simplification of precision genetic testing to ensure many more cancer patients receive optimal diagnosis and therapy. While the initial focus is on lung cancer there is potential for broad application across the cancer market.