# Cernostics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cernostics

- Industry: Healthcare Specialists
- Headquarters: Pittsburgh, US
- Website: www.cernostics.com
- Total disclosed funding: $4M
- Latest round: Series B (Jul 18, 2013)
- Investors on record: 3

## About

Cernostics, Inc. specializes in precision medicine through advanced diagnostics, leveraging innovative AI techniques to improve patient outcomes in oncology, particularly related to esophageal cancer risk assessment.Cernostics, Inc. is a diagnostic company located in Pittsburgh, US that focuses on providing diagnostic tests for cancer risk assessment. Founded in 2008, the company was acquired by Castle Biosciences in a TRADE SALE for USD 30.000 mn in cash and stock on October 19, 2021. The transaction was finalized in December 2021. Rebecca Critchley-Thorne was one of the founders, while Mike Hoerres currently serves as CEO.Cernostics, through its flagship product TissueCypher, offers an AI-driven precision medicine test designed to assess the risk of progression from Barrett’s esophagus (BE) to esophageal adenocarcinoma (EAC). TissueCypher analyzes tissue samples from standard BE pinch biopsies using proprietary algorithms to produce an individualized five-year risk score, thus aiding healthcare providers in making informed clinical decisions. The primary customers include gastroenterologists and healthcare institutions in the US managing BE patients, especially those in active surveillance programs.Cernostics generates revenue primarily through its laboratory-developed tests, particularly TissueCypher, which are ordered by physicians for their patients. This model streamlines patient management in relation to esophageal cancer risk. Revenue is derived from test orders, facilitating healthcare providers in making clinical decisions. Pricing is determined between Cernostics and healthcare providers, aligning with the clinical value offered by the test, focusing on high-risk stratification for esophageal cancer.Following its acquisition by Castle Biosciences, Cernostics is likely to utilize the USD 30.000 mn from the TRADE SALE to support further development of innovative products and expand its market reach. Plans include launching new diagnostic tests and expanding operations into additional geographic regions, specifically targeting growth in the oncology market. Further details on specific products or timelines for market expansion have yet to be disclosed.

## Funding rounds

- Series B, Jul 18, 2013, $1.4M — Novitas Capital, Geisinger Ventures, Pittsburgh Life Sciences Greenhouse
- Series A, Jun 2, 2010, $2.6M — Novitas Capital, Geisinger Ventures, Pittsburgh Life Sciences Greenhouse

## Investors

- Novitas Capital (https://capitalatlas.ai/funds/novitas-capital) — Series A, Series B
- Geisinger Ventures (https://capitalatlas.ai/funds/geisinger-ventures) — Series A, Series B
- Pittsburgh Life Sciences Greenhouse (https://capitalatlas.ai/funds/pittsburgh-life-sciences-greenhouse) — Series A, Series B