SoftBank on Monday led a new funding round of $165 million in California-based K...
Karius’ test, which is already being used in more than 100 U.S. hospitals, turns liquid biopsy technology previously used chiefly to measure the progress of cancers to the detection of over 1,000 pathogens, including bacteria and fungi.
The funding round values the company at over $700 million, according to a filing made by the company to the state of Delaware, a copy of which was seen by Reuters. Karius said it was not disclosing valuation details at this time. Dr. Bill Muller at Lurie Children’s Hospital in Chicago said his hospital typically uses the test on patients who are at the most risk of infections that are difficult to diagnose using conventional methods. He estimates that his hospital typically averages five-10 orders of the test per month.“Softbank’s healthcare team is very experienced and we actually learnt a lot through the diligence process through their questions,” Karius CEO Mickey Kertesz told Reuters.
Behavox’s platform uses AI to analyze internal company data such as employee emails and behavior to flag compliance issues. Its clients include banks and private-equity firms. Behavox said CEO Erkin Adylov and other key employees would remain the biggest shareholders in the company.
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