Elephas, an oncology-focused diagnostics platform, introduced it secured $55 million in Sequence C funding, bringing its whole increase to $116.5 million.
Enterprise Traders Well being Fund and the State of Wisconsin Funding Board (SWIB) led the spherical.
Present traders Northpond Ventures, Moore Strategic Ventures, WARF Ventures, Tao Make investments, Sands Capital and ARCH Ventures additionally participated within the increase.
WHAT IT DOES
Elephas is creating a diagnostics platform to foretell a affected person’s response to immunotherapy utilizing metabolic imaging.
Immunotherapy is a therapeutic strategy that helps the immune system combat most cancers.
The Wisconsin-based firm analyzes a tumor’s structure by way of a affected person biopsy and treats it with potential therapies to find out therapy response.
“The Elephas platform holds immense promise to deal with a crucial unmet want in predicting response to immunotherapy,” Enterprise Traders Well being Fund’s Paul Weiss stated in a press release. “We’re excited to work facet by facet with the corporate to pioneer a brand new diagnostic period for immunotherapy that may enhance each entry to remedy and outcomes for sufferers.”
MARKET SNAPSHOT
Immunotherapy is used to deal with numerous forms of cancers. Nonetheless, chemotherapy, radiation remedy and surgical procedure are the extra extensively used types of therapy, based on the National Cancer Institute.
One other firm utilizing rising applied sciences to help within the combat towards most cancers contains GE Healthcare, which announced a strategic partnership with Mayo Clinic in September, dubbed the Strategic Collaboration for Innovation in Medical Imaging and Theranostics. The collaboration focuses on advancing analysis and product improvement specializing in precision care, AI and theranostics.
Theranostics is an rising know-how and a type of precision medication that fuses imaging know-how with therapeutic brokers to pinpoint and goal most cancers cells for destruction.
In November, GE Healthcare introduced another collaboration, this time with Grand Rapids-based most cancers therapy heart BAMF Health, to advance the adoption of theranostics.
