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§ Private Profile · Danville, PA, USA
Precision diagnostics company developing AI-driven spatial biology tests for tissue biopsies to predict cancer progression in Barrett's esophagus.
Based in Pittsburgh, Pennsylvania, Cernostics is a clinical diagnostics organization that develops AI-driven spatial biology tests for tissue biopsies to predict cancer progression. The company operates a CLIA-certified laboratory and commercializes the TissueCypher Barrett’s Esophagus Assay, utilizing advanced image analysis to assist gastroenterologists and oncologists in assessing the risk of high-grade dysplasia or esophageal adenocarcinoma. Prior to its strategic exit, the enterprise secured early-stage venture funding from institutional backers including Pittsburgh Life Sciences Greenhouse and Illumina Ventures to scale its testing services. In January 2021, the firm successfully added its proprietary assay to the Medicare Clinical Laboratory Fee Schedule. Later that year, Castle Biosciences acquired the diagnostic business for $30 million in upfront consideration alongside up to $50 million in performance-based milestone payments. Cernostics was founded in 2008 by Michel A. Nederlof and Rebecca Critchley-Thorne.
Cernostics has raised $9.2M across 6 funding rounds.
Cernostics has raised $9.2M in total across 6 funding rounds.
Cernostics has raised $9.2M in total across 6 funding rounds.
Cernostics's investors include Tom Willis, Ben Franklin Technology Partners of Northeastern Pennsylvania, Geisinger Health System, Novitas Capital, Pittsburgh Life Sciences Greenhouse, UPMC Enterprises, Tal Heppenstall.
Cernostics has raised $9.2M across 6 funding rounds. Most recently, it raised $2.5M Series A in March 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 21, 2018 | $2.5M Series A | TOM Willis | BEN Franklin Technology Partners OF Northeastern Pennsylvania, Geisinger Health System, Novitas Capital, Pittsburgh Life Sciences Greenhouse, UPMC Enterprises | Announced |
| Aug 31, 2016 | $5M Venture Round | TAL Heppenstall | Novitas Capital | Announced |
| Mar 25, 2014 | $100K Venture Round | BEN Franklin Technology Partners OF Northeastern Pennsylvania | — | Announced |
| Dec 4, 2013 | $1.4M Series B | — | Geisinger Health System, Novitas Capital, Pittsburgh Life Sciences Greenhouse | Announced |
| Aug 9, 2012 | $100K Debt Financing | BEN Franklin Technology Partners OF Northeastern Pennsylvania | — | Announced |
| Mar 8, 2012 | $60K Venture Round | BEN Franklin Technology Partners OF Northeastern Pennsylvania | — | Announced |