Decipher Biosciences, which provides genomic testing products for urologic oncology, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Decipher's prostate cancer genomic testing products, Decipher Biopsy and Decipher RP, provide information about the underlying biology of a patient’s tumor, applying proprietary machine learning algorithms to help physicians improve therapy selection and accelerate adoption of new therapies into the standard of care. Collectively, the company's genomic tests have been used by more than 3,200 urologists and radiation oncologists, and at all 28 National Comprehensive Cancer Network centers in the US. Six of its clinical indications received Medicare coverage in 2020.
The San Diego, CA-based company was founded in 2008 and booked $33 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol DECI. Decipher Biosciences filed confidentially on November 14, 2019. Evercore ISI and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
