Elephas, an oncology-focused diagnostics platform, introduced it secured $55 million in Sequence C funding, bringing its complete elevate to $116.5 million.
Enterprise Traders Well being Fund and the State of Wisconsin Funding Board (SWIB) led the spherical.
Current buyers Northpond Ventures, Moore Strategic Ventures, WARF Ventures, Tao Make investments, Sands Capital and ARCH Ventures additionally participated within the elevate.
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 struggle 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 handle a crucial unmet want in predicting response to immunotherapy,” Enterprise Traders Well being Fund’s Paul Weiss stated in an announcement. “We’re excited to work facet by facet with the corporate to pioneer a brand new diagnostic period for immunotherapy that can enhance each entry to remedy and outcomes for sufferers.”
MARKET SNAPSHOT
Immunotherapy is used to deal with varied kinds of cancers. Nonetheless, chemotherapy, radiation remedy and surgical procedure are the extra extensively used types of therapy, in line with the Nationwide Most cancers Institute.
One other firm utilizing rising applied sciences to help within the struggle towards most cancers consists of GE Healthcare, which introduced 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 drugs that fuses imaging know-how with therapeutic brokers to pinpoint and goal most cancers cells for destruction.
In November, GE Healthcare introduced one other collaboration, this time with Grand Rapids-based most cancers therapy middle BAMF Well being, to advance the adoption of theranostics.
