U.K. health tech startup Sano Genetics Ltd. landed $11 million to develop a genetic data-sharing platform that connects patients with clinical researchers. MMC Ventures led the series A funding round, with Episode 1, Seedcamp and other individual investors participating.
Investors are backing precision medicine company Cancer IQ Inc. with $14 million to expand use of its cancer prevention platform. The series B funds will be used to scale the company’s cancer screening service among diverse, uninsured, and rural populations in the U.S.
Chinese company Seekin Inc. is preparing to launch its cancer detection technology in Europe after securing CE marking for the Seekincare pan-cancer test. The artificial intelligence, blood-based platform uses insights from public and private data to identify cancer DNA and protein signals in the blood. The test has been available in Chinese labs since 2018.
It’s no mystery why Scipher Medicine Corp. successfully raised $110 million in a series D financing round to further develop the company’s precision medicine platform. The company aims to address one of most modern medicine’s most challenging enigmas: how to eliminate the cost and adverse effects associated with the prescription of expensive medications that provide life-changing outcomes for some and no benefit for others. The new funds boost Scipher’s total funding to $227 million, of which $192 million has come into the Waltham, Mass.-based company’s coffers in the last 12 months.
Cancer diagnostics company Biofidelity Ltd. reported a $23 million series A+ investment round, led by Octopus Ventures with participation from SBI Investment Co. Ltd. and existing investors. Funds will be used for the commercial launch of the company’s first commercial assay Asypre-Lung. The oncology panel is designed to detect DNA mutations from tissue or liquid biopsy quicker than current approaches like gene sequencing.
Investors have backed a new precision medicine company targeting clonal hematopoiesis with $40 million. Tensixteen Bio Inc. is on a mission to understand how somatic mutations influence age-related diseases, including cancer. The San Francisco-based startup will use the funds to develop a genomics and clinical platform that can identify patients at high risk of developing disease.
Precision cancer care company Simbiosys Inc. has raised $15 million to accelerate development of its Tumor Scope software platform for management of solid tumors. The application enables oncologists to virtualize cancer tumors and simulate a patient’s response to specific drug therapies by combining artificial intelligence with biophysical simulations. The technology models the impact of drug delivery, drug sensitivity, metabolism and spatial heterogeneity and provides data that can be used to inform individual treatment plans.
Neumora Therapeutics Inc., a neuroscience startup aiming to launch precision medicines for brain diseases, said Oct. 7 it has raised more than $500 million, including a $100 million equity investment from Amgen Inc. and a series A financing led by Arch Venture Partners. The company launches with a portfolio of eight clinical, preclinical and discovery-stage programs from internal discovery efforts, the acquisitions of multiple private companies and a new license agreement with Amgen.
Precision medicine company My Next Health Inc. (MNH) has guaranteed a $150 million equity capital commitment from Global Emerging Market (GEM), a $3.4 billion Luxembourg-based private investment group. MNH was formed in May 2020 due to a merger between functional genomics company The DNA Company and digital therapeutics platform My Pain Sensei. The New York-based company is developing genomics-based health management applications that offer patients personalized genetic insights.
The most comprehensive international collaborative analysis to date of the impact of variants on gene expression has revealed thousands of previously unknown regulatory genomic regions controlling disease-linked genes, representing a major advance in genomics-driven precision medicine.
