SoftBank’s second Vision Fund has headed a new $165 million funding round in California-based Karius, which sells a test that may quickly detect hard to diagnose infections via a simple taking of blood, the start-up stated Monday.
Karius’ test, which is already used in over 100 U.S. hospitals, turns liquid biopsy know-how beforehand used mainly to measure the development of cancers to the detection of over 1,000 pathogens, along with bacteria and fungi.
The funding round values the corporation at more than $700 million, based on a filing made by the corporation to the state of Delaware. Karius stated it was not revealing valuation details at this time.
Dr. Bill Muller at Lurie Children’s Hospital in Chicago stated his hospital often makes use of the test on patients who’re at the most risk of infections that are tough to diagnose using standard methods.
The agreement is relatively small by the standards of Softbank and its giant funding arm; however, it adds to a rising list of healthcare investments that embody drug manufacturer Roivant Sciences and Vir Biotechnology, an infectious-illness focused drug developer that went public in 2019.
The Japanese technology juggernaut earlier this month posted a second straight quarter of losses at its first Vision Fund, and CEO Masayoshi Son has stated he has been forced to cut the second fund.