Funding profile · Cancer genomics

Isabl

A five person Memorial Sloan Kettering spin out with about $5.0 million in disclosed capital, two fifths of it federal grant money, and not a single Form D on file with the SEC.

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

What the filings show

Reading the filings

1. There is no Form D to read.A company search and a full text search of SEC EDGAR on September 22, 2026 return zero filings under Isabl or Isabl Inc. A $3 million seed with an institutional lead would normally produce a Form D within 15 days of first sale. Its absence is not evidence of no money: rounds papered as Y Combinator SAFEs or closed under the Section 4(a)(2) private placement exemption carry no Regulation D notice. It does mean there is no filed investor count, no offered versus sold figure and no related persons to check against the announcements.
2. Two fifths of the disclosed capital is non-dilutive.$2,033,377 of grant money against $3,000,000 of reported equity gives $5,033,377 disclosed in total, of which the NCI supplied 40%. For a company with five employees, the grant is not a supplement to the round. It is comparable to it.
3. The investor lists do not agree.TechCrunch reported in May 2022 that the $3 million round was led by Two Sigma Ventures, and the company’s own site says it “has been funded by Two Sigma Ventures, Y Combinator, BoxOne Ventures, and others.” CB Insights records the same $3 million total but types the latest round as Angel and names Sand Hill Angels, Deviation Capital, Y Combinator, BoxOne Ventures and Jude Gomilla without listing Two Sigma at all. With no Form D, nothing resolves it.
4. The grant record stops a year short of the project.RePORTER holds two award years, FY2023 and FY2024, against a project period that runs to March 31, 2026. A third non-competing continuation would normally appear as FY2025. It does not, and no FY2026 award appears either. Either the award was not renewed or it has not been posted.
5. The public surface went still in early 2024.The most recent item on the company’s own resources index was published on February 29, 2024, and the technology page still promises an RUO release in the second quarter of that year. The science kept moving: a peer reviewed paper carrying six Isabl employees as authors appeared in January 2026. The commercial story did not move with it.
6. The senior founder took an operating job elsewhere.Co-founder Elli Papaemmanuil, named as CEO in 2022 reporting, said on December 6, 2025 that she had joined Genentech to lead Translational Medicine for Oncology, roughly six months earlier. She is still named as an Isabl employee in the January 2026 paper, which reflects a submission written before the move.

Commercial signals

What to watch

• A first Form D. Any priced round with institutional investors should produce one.
• A FY2025 or FY2026 entry for R44CA281474 in NIH RePORTER.
• A named laboratory partner holding CLIA certification, which is the missing piece between the published classifier and an orderable test.
• Any update to isabl.io past February 2024, beginning with the RUO date that has passed.
• Whether the HRD classifier is licensed out rather than launched in house.

The Isabl story on Healthcare DiscoveryHealthcare Discovery

Related companies

• Kenota: Shared investor: Boxone Ventures. A Kitchener, Ontario company that spent a decade trying to make allergy testing faster than a trip to the allergist
• Equator Therapeutics: Shared investor: Sand Hill Angels. A preclinical drug company in St
• XGenomes: Also in Diagnostics. A Cambridge, Massachusetts company reading DNA in five letter words instead of one base at a time
• Clear Gene: Also in Diagnostics. An RNA test built to tell a surgeon whether the whole tumor came out

Sources

1. Public recordSEC EDGAR company and full text searchSEC · Sep 22, 2026
2. Public recordNIH RePORTER, ISABL INC., projects 1R44CA281474-01 and 5R44CA281474-02NCI · FY2023 and FY2024
3. Public recordSBIR award summary for Isabl GxTInknowvation · updated Mar 9, 2025
4. Public recordBreakthrough Devices Program pageFDA · data as of Jun 30, 2026
5. Peer reviewedWhole genome sequencing approach to assess homologous recombination deficiencyCommunications Medicine · Jan 12, 2026
6. IndependentIsabl’s rapid whole-genome analysis opens the playbook for cancer treatmentTechCrunch, Devin Coldewey · May 18, 2022
7. IndependentIsabl company record, total raised, stage and investor listCB Insights · accessed Sep 22, 2026
8. IndependentIsabl Inc. profile and foundersCrunchbase · accessed Sep 22, 2026
9. IndependentIsabl company and jobs pages, batch W20, team size 5Y Combinator directory · accessed Sep 22, 2026
10. CompanyIsabl home, technology and contact pagesisabl.io · accessed Sep 22, 2026
11. CompanyIsabl resources index, most recent item published Feb 29, 2024isabl.io · accessed Sep 22, 2026
12. Founder postPost announcing the move to GenentechElli Papaemmanuil on X · Dec 6, 2025

Compiled from SEC, NIH and FDA public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; the absence of a filing does not establish that no securities were sold, since offerings made under other exemptions carry no such notice. Healthcare Venture Capital Fund holds no position in Isabl. This page is not an offer to sell or a recommendation to buy any security.