The Belgian healthtech startup OncoDNA has closed a €19 million Series B funding round to support international growth, software development, and new hiring initiatives, according to EU-startups.com.
Since it launched in 2012, the company has become a leader in precision molecular analysis, helping doctors provide personalized treatments tailored to each patient’s individual cancer profile. The company offers a “one-stop-shop” approach to oncological analysis and interpretation.
The company comprehensively tests relevant cancer biomarkers, including DNA, RNA, and protein profiles, and combines the results with a proprietary knowledge database of cancer treatments.
The firm also collaborates with biopharma developers to assist with clinical trials for new treatments, and to help patients access new precision medicine.
“OncoDNA is already positioned as the European champion for cancer precision medicine as we built a worldwide network of more than several thousand oncologists,” founder and CEO Jean-Pol Detiffe said in a statement.
Now, OncoDNA is launching OncoKDM, clinical decision support software that can interpret raw data into clinical insights for treatment and clinical trials. KDM stands for “knowledge-driven medicine,” and the web-based tool will be able to integrate next-generation sequencing of gene panels with other data sources, to provide actionable results for oncologists in search of treatments designed specifically for each patient’s cancer profile. It will also offer support for drug developers and molecular laboratories.
“Our next move is to connect molecular laboratories to our advanced data interpretation tools, which we pride ourselves on now being possible thanks to the support of our new investors,” Detiffe said.
The equity financing round was led by Vesalius Biocapital III and Swisscanto Invest by Zürcher Kantonalbank, with participation from SFPI-FPIM, CPH Bank, Inventures, Sambrinvest, Sofinim (Ackermans & Van Haaren) and SRIW.
“We are excited about co-leading the Series B investment in OncoDNA. It is thrilling to work with a team that has both world class experience in genomic molecular profiling and a strong desire to serve patients by offering best-in-class support to oncology professionals,” said Vesalius Biocapital III partner Guy Geldhof.
“We are confident OncoDNA will accelerate the development and commercialization of its valuable new solutions, especially through closer collaborations with the biopharma industry, with the final objective of contributing to better healthcare.”
The company is based in Gosselies, Belgium, with 50 employees in four countries. OncoDNA closed another €8 million Series A funding round in 2016.
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