Karius Raises $100M Co-Led by Khosla Ventures, 5AM Ventures and Gilde Healthcare, to Expand Access to Advanced Genomic Diagnostics in Infectious Disease, Addressing Antimicrobial Resistance Crisis
May 02 2024 - 11:00AM
Business Wire
New Board Members Appointed to Support
Expansion
Karius®, Inc., a world leader in genomic diagnostics for
infectious disease, today announced it has secured $100 million in
Series C funding. The round was co-led by Khosla Ventures and new
investors 5AM Ventures and Gilde Healthcare. Also investing was new
investor Seventure Partners, and existing investors Softbank Vision
Fund 2, General Catalyst, HBM Healthcare Investments, Blue Water
Life Sciences, Innovation Endeavors, Waycross Ventures, and
others.
This investment will enable Karius to extend its reach beyond
the 400 U.S. hospitals currently using the Karius Test®, an
infectious disease diagnostic test that utilizes genomic analysis
and artificial intelligence to detect over 1,000 pathogens from a
single blood sample. The funding enables Karius to address
increasing demand from healthcare providers to expand access to the
Karius Test beyond the hospital setting. Additionally, it will
support research into the broader health implications of Karius’
microbial cell-free DNA technology beyond infectious diseases.
“Every minute in the U.S., five cancer patients are admitted to
the hospital due to infections—conditions that are often
overshadowed by their primary diagnosis but are equally lethal,
leading to nearly 1,000 deaths daily,” said Alec Ford, CEO of
Karius. “This worrying reality emphasizes a critical and frequently
overlooked gap in our healthcare system: the urgent need for faster
diagnostic solutions. At Karius, we confront this challenge
head-on. The Karius Test can reduce the time required to identify
the cause of infections, as every minute counts for cancer patient
survival. This additional $100 million will significantly enhance
our capacity to deliver rapid diagnostic testing to more patients,
where faster treatment saves more lives and significant healthcare
resources.”
New Board Appointments
Karius also announced the appointment of three new board members
joining recent additions, Dr. Norman Sharpless M.D., former
National Cancer Institute Head, and Elizabeth O'Farrell, former Eli
Lilly executive:
- Alex Morgan, M.D., Ph.D., Partner at Khosla Ventures
- Joep Muijrers, Ph.D., General Partner at Gilde Healthcare
- Andrew Booth, Venture Advisor to 5AM Ventures, and CFO of
AbCellera Biologics
“Investing in Karius addresses critical gaps in healthcare
diagnostics,” stated Alex Morgan, Partner at Khosla Ventures.
“Traditional methods can be slow and can contribute to overuse of
antibiotics, particularly risky for immunocompromised patients and
fueling Antimicrobial Resistance (AMR). Precisely identifying
pathogens allows for targeted treatment, minimizing the use of
broad-spectrum antibiotics and reducing the risk of AMR
proliferation. This investment aligns with our commitment to
advancing technologies for better public health outcomes.”
“We are thrilled to partner with Karius and to support the
company in its journey to help deliver better care at lower cost to
some of the most vulnerable patients out there,” added Joep
Muijrers, General Partner at Gilde Healthcare.
“Karius’ strong revenue and growth illustrates how impactful the
Karius Test is to clinical care. We are proud to co-lead the
company’s Series C as Karius expands into new markets and moves to
profitability,” added Andrew Booth, Venture Advisor, at 5AM
Ventures.
“Over the years, we’ve witnessed firsthand the repeat impact
Karius has made on patient management across numerous clinical
settings,” added Vali Barsan, M.D., Karius Board Member and
investor for SoftBank Investment Advisers. “Alongside our new as
well as existing investors, we’re proud to extend our partnership
with the Karius team as they continue to scale precision
metagenomics for more rapid and definitive diagnostics that enable
better patient outcomes.”
Karius’ Series C financing coincides with the positive results
from the PICKUP1 trial, a landmark multi-center study enrolling 257
hospitalized adults with pneumonia and active hematologic
malignancies across 10 leading medical centers, including Duke
University Health, MD Anderson Cancer Center, Memorial Sloan
Kettering Cancer Center, and University of California, San
Francisco Medical Center. When added to the standard of care
workup, the Karius Test detected 40% (21/52) more infections with a
potential to change medical management for 81% (17/21) of these
cases, demonstrating a significant additive diagnostic value in
patients with blood cancers or bone marrow transplants. This
first-of-its-kind study underscores the Karius Test's potential to
transform the diagnostic journey and patient care.
“We’ve done extensive due diligence, and the value that Karius
brings to patients and the healthcare system at large is abundantly
clear,” said Isabelle De Cremoux, CEO and Managing Partner of
Seventure Partners. “The clinical evidence clearly shows its
potential to help more patients. We’re excited to join Karius at
such a key strategic time for the company as they grow to support
the wider commercialization of the Karius Test.”
Learn more about Karius’ solutions for infectious disease
diagnostics by visiting kariusdx.com.
About Karius
Karius Inc., a global leader in liquid biopsy for infectious
diseases, harnesses metagenomics, next-generation sequencing, and
artificial intelligence (AI) to help enhance the precision and
speed of pathogen diagnosis. The Karius Test®, used in over 400
healthcare institutions–including 90+ transplant centers and 40+
children’s hospitals across the United States–identifies more than
1,000 pathogens, including viruses, bacteria, fungi, and parasites
from a single blood draw typically within a day of sample
receipt.
A landmark study in the Journal of Clinical Microbiology found
that the Karius Test detected 701 unique microbial taxa across a
cohort of 15,000 patients, making it the largest study of its kind,
demonstrating the capability of the Karius Test in pathogen
identification. The Karius Test also has been incorporated into the
diagnostics recommendations in the 2023 Duke-ISCVID Criteria for
Infective Endocarditis.
References:
- Bergin SP, et al. Clinical Infectious Diseases. October
2023
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Media Contact Consort Partners for Karius
kariusdx@consortpartners.com