May 13, 2022
OncoHost Raises $35 Million Series C Funding Round to Launch Blood Test That May Rewrite the Standard of Care for Precision Oncology
Original source here.
AI-Powered Precision Oncology Platform Enables Clinicians to Personalize Cancer Treatment Plans and Overcome Resistance
OncoHost, a global leader in next-generation precision oncology for improved personalized cancer therapy, announced the completion of a $35 million Series C funding round. The funding will go towards expanding OncoHost’s ongoing multicenter PROPHETIC trial which utilizes PROphet , the company’s machine learning-based host response profiling platform, and supporting the imminent U.S. commercial launch of the precision oncology diagnostic solution.
Leveraging advanced proteomic analysis and AI-based host response science, OncoHost’s PROphet platform is a personalized, real-time, dynamic ‘disease navigator’ that provides early identification of an individual’s responsiveness to cancer therapy, analysis of treatment resistance mechanisms, and potential available strategies to overcome this resistance. Clinical trial results have shown PROphet to have remarkably high accuracy in assessing non-small cell lung cancer (NSCLC) patient response at three months, six months and one year. Through one blood test pre-treatment, the company’s multi-patented platform also provides clinicians with potential combination strategies to overcome treatment resistance.
The funding round, which was upsized and oversubscribed, was led by ALIVE Israel HealthTech VC, a pioneer mid-to-late stage healthtech fund. Additional investors included leading Israeli financial firm Leumi Partners, Israel’s largest pension fund Menora Mivtachim, OurCrowd and other existing investors. ALIVE’s co-founder and general managing partner, Prof. Ari Shamiss, was recently named a new member of OncoHost’s board.
“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 unique approach can create a brighter and 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.”
“This is OncoHost’s third and most significant investment round to date, demonstrating the company’s maturity, credibility and scalability,” said Dr. Ofer Sharon, CEO of OncoHost. “We are honored to be supported by leading local and global investment funds that understand and support our vision to shift the landscape of oncology to a truly personalized approach and want to be part of our journey in revolutionizing cancer care.”
OncoHost continues to open additional clinical trial sites around the world and will be expanding its research to further cancer indications. PROphet is set to commercial launch in the U.S. in the third quarter of 2022.