We’re thrilled to announce that we've secured $100 million for our Series C fund, co-led by Khosla Ventures, 5AM Ventures, Gilde Healthcare, and joined by new investor Seventure Partners and existing investor SoftBank Investment Advisers, General Catalyst, HBM Healthcare Investments, Blue Water Life Sciences, Innovation Endeavors, Waycross Partners, and others. These funds enable us to address increasing demand from healthcare providers to expand access to the Karius Test beyond the hospital setting and support research into the broader health implications of Karius’ microbial cell-free DNA technology beyond infectious diseases.
Additionally, we're pleased to welcome Alexander A. Morgan, MD PhD from Khosla Ventures, Joep Muijrers from Gilde Healthcare, and Andrew Booth, Venture Advisor at 5AM Ventures and CFO of AbCellera, to our board of directors.
Karius' financing coincides with positive results from the PICKUP trial, which enrolled 257 hospitalized adults with pneumonia and hematologic malignancies across 10 leading medical centers. The Karius Test, when added to standard care, detected 40% more infections, potentially changing medical management for 81% of cases, highlighting its diagnostic value in patients with blood cancers or bone marrow transplants and its potential to transform patient care.
Thanks to both our new investors as well as existing long-term investors who have participated in the round because of their continued belief in the change Karius can accomplish.
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Congratulations to a wonderful team building an important company that is helping improve the lives of patients with chronic health conditions. So glad our team at Rev1 Ventures is able to work with the Redi.Health team of Luke Buchanan, Jaimin Gandhi, Nate Rehm, and Kyle Grimslid. Wishing the team all the best in the next phase of Redi.Health's growth!