Israeli AI-based precision cancer medicine company Imagene AI has announced that it has raised $21.5 million financing round, including $3 million in seed funding led by Blumberg Capital and an $18.5 million Series A round led by Larry Ellison, Dr. David Agus, and Eyal Gura.
Imagene's digitized biopsy image AI diagnostic technology delivers real-time molecular analysis, increasing the level of accuracy and reducing the time required for results, from several weeks to just two minutes. Imagene also provides treatment response-prediction, which brings cancer care closer to reaching the full potential of precision medicine. The company's technology classifies patterns that cannot be seen by the human eye, evolving genomics, proteomics, and spatial insights to better understand the recurrence of specific cancers and their resistance mechanisms; this enables better stratification of patients in clinical trials and the discovery of novel targets for new drugs.
The Tel Aviv-based company was founded in 2020 by CEO Dean Bitan, CDS Jonathan Zalach, CTO Shahar Porat and CSO Dr. Nurit Paz-Yaacov.
Bitan said, "Precision medicine is transforming cancer care, yet, still relevant and available to less than 15 percent of cancer patients1. Our scalable technology strives to enable treatment opportunities for all cancer patients, driving precision medicine to be tailored per individual patient condition."
Imagene collaborates with top-tier medical centers and pharmaceutical companies worldwide, making therapeutic decisions for cancer more accurate and accessible, profiling patients for clinical trials, and accelerating the drug development process.
Published by Globes, Israel business news - en.globes.co.il - on May 3, 2022.
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