Hospitals back cancer detection startup in $59M funding round

Some Colorado hospitals are backing a cancer diagnostics startup as part of a $58.75 million funding round.

The University of Colorado Healthcare Innovation Fund, which includes Aurora-based UCHealth and Children's Hospital Colorado, participated in the oversubscribed series B round for Foresight Diagnostics, which is developing ultrasensitive cancer treatment tests. Foresite Capital led the financing, which also included Stanford (Calif.) University.

"I've been extremely impressed by the achievements that Foresight has made towards redefining cancer treatment and the drug development process through precision cancer monitoring," said Uplaksh Kumar, Ph.D., venture partner at Foresite Capital, in an April 27 news release.

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