Imagene AI, an Israeli medtech startup that develops AI-based precision medicine for cancer treatment, raised $21.5 million, comprising $3 million in seed funding led by Blumberg Capital and an $18.5 million Series A round led by renowned technology-driven cancer medicine investors Larry Ellison, Dr. David Agus, and AI imaging space pioneer Eyal Gura.
Founded in 2020by Dean Bitan, Jonathan Zalach, and Shahar Porat, Imagene AI is a Tel Aviv-based precision oncology diagnosis company. Its molecular and micro-environment intelligence platform delivers real-time biomarker reports using only digitized biopsy images, leading to faster diagnosis and better identification of treatment for patients. Its multidisciplinary team is composed of a diverse group of experts from the fields of science, clinical, and deep learning.
Imagene’s technology classifies patterns that cannot be seen by the human eye, evolving genomics, proteomics, and spatial insights to better understand the recurrence of specific cancers and their resistance mechanisms; this enables better stratification of patients in clinical trials and the discovery of novel targets for new drugs.
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“Though cancer is a complex disease we might never fully understand, AI is bringing us closer to considering all relevant parameters that affect it, allowing a move towards theragnostics – a personal treatment strategy that combines therapeutics with diagnostics,” said Dr. Agus, one of the world’s leading physicians and the co-founder of several pioneering precision medicine companies. “Imagene’s technology can unlock precise and crucial information in real time, changing the way cancer is diagnosed and treated.”
Ellison, co-founder and chief technology officer of Oracle Corp., and Dr. Agus founded the Institute for Transformative Medicine in 2016 with the mission to spark innovation, leverage technology, and drive interdisciplinary, patient-centered research to continually reimagine and redefine cancer care, enhance health, and transform lives.
“Imagene is honored to have the support of visionary investors – leaders at the forefront of technology-driven cancer research – who embrace our mission of revolutionizing cancer diagnosis and transforming patient care,” said Dean Bitan, Imagene co-founder and chief executive officer. “Precision medicine is transforming cancer care, yet, still relevant and available to less than 15 percent of cancer patients1. Our scalable technology strives to enable treatment opportunities for all cancer patients, driving precision medicine to be tailored per individual patient condition.”