In a significant stride toward revolutionizing cancer diagnostics, Craif Inc., a Japanese startup specializing in non-invasive early cancer detection, has successfully raised $22 million in its Series C funding round. This latest investment elevates the company’s total funding to $57 million and positions its valuation just shy of $100 million. The round was led by existing investor X&KSK, with participation from U.S.-based Unreasonable Group—marking its inaugural investment in a Japanese firm—as well as TAUNS Laboratories, Daiwa House Industry, and Aozora Bank Group.
Founded in 2018 as a spin-off from Nagoya University, Craif is at the forefront of developing an AI-powered platform that utilizes microRNA (miRNA) analysis for early cancer detection through urine samples. This innovative approach offers a non-invasive, accessible, and efficient alternative to traditional diagnostic methods, which often involve invasive procedures and can deter individuals from regular screenings.
The inception of Craif was deeply personal for co-founder and CEO Ryuichi Onose, whose grandparents’ battles with cancer underscored the urgent need for early detection solutions. Collaborating with associate professor Takao Yasui from Nagoya University, Onose established Craif to harness Yasui’s pioneering research on urinary biomarkers for cancer detection.
Traditional cancer diagnostics, such as blood tests and imaging, can be invasive, costly, and time-consuming, leading to lower participation rates in regular screenings. Craif’s urine-based test addresses these challenges by enabling early detection, even at Stage 1, from the comfort of a patient’s home. This method leverages advanced miRNA analysis to identify cancer-related biomarkers, making early detection more accessible and effective.
The global cancer burden is escalating, with nearly 20 million new cases and 9.7 million cancer-related deaths reported in 2022. Projections indicate a rise to 29.9 million new cases by 2040. Early detection is crucial in improving survival rates and reducing treatment costs, making innovations like Craif’s platform vital in the fight against cancer.
Craif’s approach distinguishes itself from other early cancer detection startups by focusing on miRNA as a biomarker instead of cell-free DNA (cfDNA). MiRNA is actively secreted by early cancer cells, making it particularly suitable for early detection. Additionally, using urine samples offers a non-invasive and convenient method for patients, potentially increasing participation in regular screenings.
The recent funding will enable Craif to expand its presence in the U.S. market and enhance its research and development efforts. The company aims to collaborate with healthcare providers and institutions to integrate its testing platform into routine medical practice, thereby improving early cancer detection rates and patient outcomes.
In 2024, Craif was selected for the Medtech Innovator Accelerator Cohort, the world’s largest medical technology accelerator. This program identifies startups with innovative medical technologies and provides them with support from industry partners and experts. Craif’s inclusion in this program underscores the potential impact of its technology on global healthcare.
The company’s mission is to ensure lifelong health for everyone by providing accurate and painless early cancer detection methods. By harnessing the power of miRNA analysis in urine samples, Craif is poised to transform the landscape of cancer diagnostics, making early detection more accessible and improving patient outcomes worldwide.
