OncoHost Raises $35M in Series C Financing
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OncoHost on Tuesday said it has raised $35 million in a Series C funding round, which it will put toward expanding its ongoing PROPHETIC trial evaluating the ability of the proteomics-based Prophet platform to predict cancer patients’ immunotherapy responses.
Alive Israel HealthTech VC led the upsized and oversubscribed financing round, and Leumi Partners, Menora Mivtachim, OurCrowd, and other existing investors participated.
The observational PROPHETIC trial involves proteomic analysis of serum blood samples from melanoma and lung cancer patients in Israel, Europe, and the US. OncoHost conducts the proteomic profiling on both baseline samples and after treatment. For each sample, the Prophet test is designed to scan over 7,000 proteins and then identify patterns using high-throughput, machine learning-based algorithms that predict patient outcomes as well as identify potential drug targets and strategies for overcoming therapeutic resistance.
Binyamina, Israel-based OncoHost plans to commercially launch the Prophet platform in the US during the third quarter of this year and said that the raised money will support this launch. The firm also wants to open additional clinical trial sites internationally and expand into additional cancer indications.
In announcing the financing, OncoHost also said that Ari Shamiss, Alive’s cofounder and general managing partner, has joined its board of directors.