By Colin Kellaher 
 

Cancer blood-testing company Guardant Health Inc. on Thursday filed for an initial public offering.

Guardant's filing with the Securities and Exchange Commission indicates the company plans to raise up to $100 million, a placeholder figure used to calculate filing fees that is often changed.

Guardant, which offers liquid biopsy tests for cancer, aims to sequence the tumor DNA of more than 1 million cancer patients and will use data from the effort will fuel advances in cancer care and speed development of blood tests for early cancer detection.

Redwood City, Calif.-based Guardant last year raised $360 million in a funding round led by SoftBank Group (9984.TO).

Affiliates of SoftBank currently own a 39.3% stake in Guardant. Affiliates of Sequoia Capital own 11%, affiliates of Khosla Ventures hold 10.1%, and affiliates of Lightspeed Venture Partners own 5.4%.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 06, 2018 07:34 ET (11:34 GMT)