Castle Biosciences raised $11.7M

What does Castle Biosciences do?

Castle Biosciences, is a company which provides molecular diagnostics for improving cancer treatment decisions. It develops and validates tests and technologies for the cancer treatment. The company focuses on addressing the gap. It works with the leading cancer institutes for in-license proprietary technologies and completing development and validation. Its ultimate goal is making the proven tests available to all the individuals with a rare cancer.

 How much Castle Biosciences was funded?

Castle Biosciences raised $11.7M in Series F funding on July 27, 2015 from the investors Industry Ventures which led the finance round, along with the investors Mountain Group Partners and HealthQuest Capital.

Previous funding

• $1.1M in Venture round on March 12, 2010
• $1.3M in Venture round on October 4, 2012
• $1.5M in Venture round on May 16, 2013
• $1M in Venture round on November 19, 2013
• $1M in Venture round on May 5, 2014
• $11.8M in Venture round on August 13, 2014 from HealthQuest Capital, Mountain Group Capital, Longfellow Venture Partners
• $6M in Debt Financing on April 14, 2015 from Silicon Valley Bank

What is next for Castle Biosciences?

Castle Biosciences is very pleased that Industry Ventures lead the latest round of funding and for the continuing support of its current investors. The company will use the funding for accelerating its growth in clinical adoption of the company’s gene test for identifying the metastatic risk in early stage cutaneous melanoma, DecisionDx-Melanoma, and its other tests designed for improving the cancer care.

The funding will enable the company expand its efforts to reach physicians and payers and for increasing the patients’ number who can benefit from the improves cancer staging and take better decisions about treatment enabled by the company’s molecular diagnostic tests.

More about Castle Biosciences

The molecular diagnostics company was founded in 2008 and has its headquarters in Friendswood, TX.