AI-Powered oncology platform raises $35 million Series C funding round
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The funding will go towards expanding OncoHost’s ongoing multicenter PROPHETIC trial.
OncoHost has announced a Series C $35 million funding round led by ALIVE Israel HealthTech VC, as well as other prominent investors. The funding will go towards expanding OncoHost’s ongoing multicenter PROPHETIC trial (Predicting Responsiveness in Oncology Patients Based on Host Response Evaluation During Anti Cancer Treatments) as well as support its upcoming US commercial launch.
Leveraging advanced analysis of large-scale study of proteins and AI-based host response science, OncoHost’s platform is a customized real-time, dynamic “disease sniffer” that gives early identification of an individual’s responsiveness to cancer therapy, analysis of treatment resistance mechanisms, and potentially available strategies to overcome this resistance.
Clinical trial results have shown that the platform possesses remarkably high accuracy in assessing non-small cell carcinoma (NSCLC) patient response at three months, six months and one year.
Through one pre-treatment blood test, the platform provides medical personnel with a potential combination of methods to withstand treatment resistance.
The current round of funding, which was upsized and oversubscribed, was led by ALIVE Israel HealthTech VC, a pioneer mid-to-late stage health tech fund. Additional investors included leading Israeli financial firm Leumi Partners, Israel’s largest pension fund Menora Mivtachim and OurCrowd, among others.
The funding will go towards expanding OncoHost’s ongoing multicenter PROPHETIC trial, which utilizes the company’s machine learning-based host response profiling platform, and supporting the imminent US commercial launch of the precision oncology diagnostic solution.
“OncoHost provides significant value to both cancer patients and their clinicians and it is an honor to have led this transformational funding round,” said Prof. Ari Shamiss, “With promising and significant clinical results, OncoHost’s approach can create a better future for the world of precision oncology, maximizing the likelihood of selecting the correct therapy combinations and dramatically improving therapeutic results for cancer patients.
“We are confident that OncoHost is set to become a pivotal proteomics market leader in personalized oncology treatment,” he added