NEW YORK – Caris Life Sciences said on Thursday that it has closed a senior secured term loan of up to $400 million in capital from OrbiMed and Braidwell.
The Irving, Texas-based firm plans to use the proceeds to repay outstanding debt, to enhance its precision medicine platform, and for general corporate purposes.
OrbiMed, which led the financing, also participated in Caris' $830 million equity financing round in 2021 and $310 million growth capital financing round in 2020. Braidwell is a new investor in the company. The current investment brings Caris' total capital raised since 2018 to approximately $1.7 billion.
"We are making breakthroughs with artificial intelligence and machine learning that enhance and change our understanding of cancer as a disease," David Halbert, chairman, founder and CEO of Caris Life Sciences, said in a statement. "This additional capital will allow us to pursue that mission with even more intense focus as we invest in our technologies and product pipeline."