Genomate Raises $2.25M to Further Develop Its AI-based Computational Model to Predict Targeted Cancer Therapy Response

The company will further develop its technology that aims to predict a patient’s response across all forms of cancer to multiple molecularly targeted treatments

CAMBRIDGE, MASSACHUSETTS, UNITED STATES, April 16, 2024 /EINPresswire.com/ -- Genomate Health, a pioneer in applying AI to cancer treatment, proudly announces the successful completion of a $2.25 million funding round. This investment comes days after Genomate Health graduated from cohort 4 of the prestigious Mayo Clinic Platform_Accelerate program.

With this capital infusion, Genomate Health plans to further develop its computational model to predict therapeutic response to multiple molecularly targeted drugs for each cancer patient regardless of their cancer type. The company also plans to pursue FDA clearance for its revolutionary platform to enable widespread access to its first-in-class solution.

Genomate Health Inc. was founded in 2022 by physician-scientist and entrepreneur Istvan Petak, MD, PhD, with a bold mission to transform cancer care. The company is pioneering AI-powered computational solutions to personalize treatment strategies for patients worldwide. This method is the culmination of more than two decades of scientific research and is supported by numerous clinical studies and publications, including the world’s first randomized clinical trial in precision oncology, the SHIVA01 trial.

Genomate™ is the world's first clinically validated universal computational reasoning model for precision oncology. Unlike traditional approaches, it goes beyond simplistic one-size-fits-all treatments by leveraging cutting-edge AI technology to analyze each patient's unique genetic alterations and biomarkers. This approach helps predict responses to multiple targeted therapies with unrivaled accuracy, which empowers healthcare providers to make informed decisions that optimize treatment outcomes and improve patient care.

"We believe that every cancer patient deserves access to personalized, data-driven treatment options. This investment will help scale our operations and development efforts, engage in pilot programs, and collaborate with more partners, all with the aim of advancing precision oncology and improving cancer patient outcomes globally. This raise helps us prepare for subsequent rounds that can advance us to fulfill our vision of helping patients find the right therapy, the first time, every time, with the help of a computational solution." said Istvan Petak, MD, Ph.D., CEO, Founder, and CSO of Genomate Health Inc.

Genomate™’s exceptional potential has already gained recognition. It earned a place on Forbes' list of hottest startups, became a founding member of the White House CancerX initiative, and has just graduated from the Mayo Clinic Platform_Accelerate program. The program, backed by the renowned Mayo Clinic, is dedicated to identifying and supporting the most promising healthcare technology startups globally. Through the program, Genomate™ has gained access to Mayo Clinic's unparalleled expertise and resources, empowering the company to accelerate its innovations in precision oncology and revolutionize cancer care on a global scale.

About Genomate Health
Genomate Health Inc. is a medical technology company based in Cambridge, MA, developing AI-powered computational solutions for personalized medicine. Its flagship product, Genomate™, is the first clinically validated universal computational reasoning model that can predict response to multiple targeted therapies by analyzing each patient's unique combinations of genetic alterations and biomarkers. Genomate™ delivers the first computational reasoning solution to implement the true promise of precision oncology of N-of-1 therapy based on the genomic profile of the patient’s tumor. The result is presented as a comprehensive, data-backed report that guides oncologists and patients toward the most suitable treatment, enhancing the efficacy of therapies.

For more information, visit www.genomate.health, and follow the momentum on LinkedIn, Facebook, Twitter, and Instagram.

Media Contact:

Alina Luchian
Genomate Health Inc
alina.luchian@genomate.health
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Genomate™ - The right drug. The first time. Every time.