About Adela
Adela makes blood tests for clinicians and drug developers to detect cancer and track treatment. The tests read methylation, cancer-linked patterns on DNA, from fragments circulating in blood. They do not require a stored tumor sample. The platform supports tests for traces of cancer left after treatment, immunotherapy response and early detection across several cancers. Drug companies and investigators can also use it for finding biological indicators and developing medicines.
Adela has a Foster City address and names San Francisco and Toronto. Lindsay Mateo is chief executive officer. Its CLIA number is 05D2297636, and its CAP number is 9203873. The recurrence test is available to select providers and institutions for head and neck cancer. Adela planned to broaden commercialization during 2026 for patients with solid tumors receiving immunotherapy.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Oct 2, 2026 | Oct 19, 2026 | $12,000,000fully sold | 5 | $2.4M | Debt, Convertible promissory notes convertible into equity securities of the Issuer and the equity securities to be issued upon such conversionRule 506(b) | Form D ↗ |
| Apr 10, 2026 | Apr 23, 2026 | $5,000,000fully sold | 1 | $5.0M | Debt, Convertible promissory note convertible into equity securities of the Issuer and the equity securities to be issued upon such conversionRule 506(b) | Form D ↗ |
| Jun 23, 2025 | Jul 8, 2025 | $25,425,442of $27.0M target | 9 | $2.8M | Debt, Convertible promissory notes convertible into equity securities of the Issuer and the equity securities to be issued upon such conversionRule 506(b) | Form D ↗ |
| Oct 10, 2023 | Feb 14, 2024 | $3,296,554fully sold | 3 | $1.0M | Options, Securities on exerciseRule 506(b) | Form D ↗ |
| Jul 14, 2021 | Feb 14, 2024 | $1,187,700fully sold | 2 | $593K | Options, Securities on exerciseRule 506(b) | Form D ↗ |
| Jul 28, 2023 | Aug 11, 2023amended Jul 29, 2024 | $48,540,780of $49.3M target | 11 | $4.4M | EquityRule 506(b) | Form D/A ↗1 earlier filing |
| Mar 17, 2021 | Mar 31, 2021 | $29,999,988of $59.9M target | 7 | $4.2M | EquityRule 506(b) | Form D ↗ |
| Total, seven offerings | $125,450,464 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by Adela
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Sep 25, 2023 | Financing | $48 million | F-Prime Capital, OrbiMed, Deerfield Management, Decheng Capital, RA Capital Management and Labcorp | Adela financing announcement ↗ |
Why Investors Backed Adela
Adela develops blood tests for detecting and tracking cancer. Its investment case rests on reading broad methylation signals without needing tumor tissue. One platform addresses recurrence, therapy response and early detection. Clinical validation and wider commercial use are the next tests of that strategy.
The problem it targets
Imaging can make true progression hard to distinguish from pseudoprogression early in immunotherapy. Tumor tissue is another bottleneck. Citing a study by Sam Khan and colleagues, Adela reports that nearly 40% of lung-cancer patients lack enough tissue for tissue-informed residual-disease tests. Clinician investigator Enrique Sanz-Garcia said earlier response signals could guide treatment changes and help avoid unnecessary toxicity.
What the product does
Adela uses a high-affinity process to enrich methylated DNA regions across the genome before sequencing. Compared with chemical or enzyme conversion, the method preserves more genetic material for analysis. The test tracks changes in methylated circulating tumor DNA between blood draws. That supports recurrence surveillance and early measurement of immunotherapy response. The platform is also being trained for multi-cancer early detection.
Progress so far
Clinical work spans recurrence and treatment response. The head-and-neck recurrence test was validated in Annals of Oncology, and npj Precision Oncology published validation for immunotherapy monitoring. A 64-patient study linked falling tumor-DNA signals before cycle three to longer progression-free survival. A separate 63-patient lung study associated positive results with worse progression-free survival. In early lung cancer, 136 samples from 24 patients showed recurrence up to 35.9 months before exams or imaging, averaging 16.6 months. CAMPERR had enrolled over 6,100 people across 15 U.S. sites by May 2026. Its 20 cancer types represent 93% of U.S. incidence and 88% of deaths.
Who backs it
The financing brought total capital raised to $108 million. F-Prime Capital, OrbiMed and Deerfield Management joined the round. Decheng Capital, RA Capital Management and new investor Labcorp also participated. Adela earmarked proceeds for platform work, commercialization of its first residual-disease test and development of a multi-cancer early-detection product. The platform originated with Daniel De Carvalho at Princess Margaret Cancer Centre, working with Sinai Health System investigators.
We wrote this summary from public statements by Adela and its investors. It is not investment advice.
Adela in the News
Leadership Team
Executive officers and directors listed on Adela's Form D filed Oct 19, 2026.
Earlier filings also listed Scott Bratman (executive officer, last listed Apr 2026), Lisa Alderson (chief executive officer and director, last listed Apr 2026), Priscilla Huang (executive officer, last listed Jul 2025), Andrew ElBardissi (director, last listed Jul 2025), Karla Jarvis (executive officer, last listed Jul 2024), Daniel De Carvalho (co-founder and chief scientific officer, last listed Mar 2021) and Anne-Renee Hartman Feldman (executive officer, last listed Mar 2021).