OrisDX Secures $4M to Launch Saliva-Based Oral Cancer Platform

OrisDX, a precision diagnostics firm originating from the University of Chicago, has successfully completed a $4 million Seed financing round. This investment was spearheaded by Revere Partners and received strategic backing from CareQuest Innovation Partners. The influx of funds is set to facilitate the commercial launch of OrisDX’s revolutionary saliva-based multiomic platform, primarily aimed at the early detection of oral cancer.

This innovative diagnostic approach involves a simple, non-invasive oral rinse test, boasting impressive accuracy with 93% sensitivity and 99% specificity. Such precision represents a significant improvement over current diagnostic practices, where visual inspections frequently result in only 20% of oral cancers being accurately identified. Consequently, this leads to numerous unnecessary surgical biopsies. The test, founded on proprietary molecular technology, allows for a more precise diagnosis, thereby replacing the uncertainty associated with traditional visual inspections and invasive biopsies. The research supporting this technology was published in the journal Cancer in 2021.

Harald Steltzer, CEO of OrisDX, commented on the company’s focus on advancing from blood-based liquid biopsies to an emphasis on salivaomics, the study of saliva. He highlighted the convenience and pain-free nature of saliva collection, which permits sample provision either in clinics or at home.

Revere Partners' Managing Partner, Dr. Jeremy Krell, emphasized the test's utility in dental clinics, where dental hygienists can administer it easily. This approach aids dentists when examining uncertain lesions in the oral cavity. By reaching over 200,000 dentists, the test not only democratizes access to healthcare services but also creates new revenue opportunities for dental practices.

Denise Marks, EVP & Chief Financial Officer at CareQuest Institute for Oral Health, praised OrisDX’s use of salivary diagnostics to revolutionize early cancer detection and prevention. She noted that CareQuest Innovation Partners’ investment is a testament to their dedication to advancing technologies that improve access to care, support early intervention, and enhance health outcomes. Marks expressed pride in supporting OrisDX during this crucial phase of growth and innovation.

The seed funding round attracted a strategic cohort of investors dedicated to healthcare innovation. This included the University of Chicago Medical Center through its UCM Ventures initiative and Harper Court Ventures Fund I, managed by MFV Partners in collaboration with the University of Chicago. This deep tech fund supports early-stage ventures, especially those connected to the university’s innovation ecosystem, including contributions from faculty, students, and the Polsky Center for Entrepreneurship and Innovation. Notably, two of OrisDX’s founders are faculty members at the University of Chicago, and an executive team member is a graduate of the Chicago Booth School of Business.

Additionally, the funding round featured capital from the Illinois Innovation Venture Fund (INVENT), which is managed by the Office of Entrepreneurship, Innovation & Technology at the Illinois Department of Commerce and Economic Opportunity. This program is dedicated to supporting startups within Illinois. Strategic family offices and angel investors also participated in the round.

The funding will back the rollout of OrisDX’s diagnostic platform across various channels, including dental, oncology, and medical. The company has been gaining national recognition and recently showcased at BioCentury’s Grand Rounds in Chicago. OrisDX will also be one of only two Illinois companies highlighted at the upcoming BIO International conference. Furthermore, OrisDX co-hosted the inaugural Oral Cancer Summit with the American Dental Association, contributing to a new national strategy for early detection. In 2024, the company received numerous accolades for its innovation, including recognition from The American Dental Association-Forsyth Institute and HLTH Digital Health Awards.

OrisDX is committed to advancing public health through its non-invasive molecular testing and aims to transform cancer detection and clinical decision-making. Its pioneering oral rinse test for early detection of head and neck cancers represents a milestone in cancer diagnostics, building on the University of Chicago’s research excellence. The company is based in Chicago and was the first-place winner of the 2022 University of Chicago New Venture Challenge.