Bluestar shoots to $70m series C

Bluestar Genomics, a US-based cancer diagnostics technology developer spun out of Stanford University, raised $70m in a series C round led by Mattias Westman, founding partner of asset management firm Prosperity Capital Management.
Medical diagnostics group Pathology Asia Holdings also participated in the round, as did an undisclosed venture capital fund and an unnamed asset manager also took part.
Bluestar is exploring cancer screening products focusing on the genetic material of cells, otherwise known as the epigenome. It is working on a non-invasive test for pancreatic cancer based on research in Steven Quake’s laboratory.
The company has not revealed any earlier funding. It announced the series C round together with its appointment of Felix Feng, professor of radiation oncology, urology and medicine at University of California, San Francisco, and Craig Venter, CEO of J Craig Venter Institute, to its scientific advisory board.
Samuel Levy, chief executive and chief scientific officer of Bluestar, said: “As we continue to champion the development of next-generation non-invasive cancer detection, we welcome Drs Feng and Venter to our team.
“Their leading scientific and clinical expertise will help accelerate our development and commercialisation efforts. Collectively, these milestones will extend our ability to deliver on our promise to improve on existing cancer screening and provide a new solution where none exists.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.