Inocras Raises $31 Million Series B Round to Fund US Expansion
The oversubscribed round brings Inocras's total funding to about $100 million.
Inocras has raised $31 million in an oversubscribed Series B financing round, bringing its total funding to approximately $100 million.
The round, announced Aug. 3, included participation from NDS Corporation and Aimed Bio, along with new investors IMM Investment, Korea Investment & Securities, LoftyRock Investment, DT&Investment, Woori Investment & Securities, and Shinhan Securities. Existing investors DSC Investment, Dunamu & Partners, and InterVest also participated.
Based in San Diego but with roots in South Korea, Inocras offers whole-genome sequencing-based tests for precision oncology.
The company said in a statement that it will use the proceeds to expand its whole-genome sequencing and bioinformatics platform in the US. Inocras offers two precision oncology products: CancerVision for comprehensive tumor profiling and MRDVision for molecular residual disease detection. It will go up against much larger cancer testing companies including Foundation Medicine, Tempus AI, and Caris Life Sciences, among others.
The US expansion builds on Inocras’s deployment in clinics across Asia, where its technology is used by more than 100 cancer institutions in thousands of patient cases. Inocras has a commercial presence in Hong Kong and supports about 30 hospitals in South Korea.
“We have already seen meaningful adoption across cancer institutions in Asia, where our technology has been used in thousands of patient cases,” said Jehee Suh, CEO of Inocras. “Our next objective is to bring that clinical experience to the United States and help make whole-genome analysis a standard part of cancer care. This financing gives us the resources to expand our clinical presence, support adoption within hospitals, and build the evidence and infrastructure required to achieve that goal.”