ImpriMed Raises $8M to Commercialize AI-Driven Personalized Drug Response Prediction Service in Pet Cancer Market
This Pre-Series A Funding will accelerate the growth of ImpriMed’s AI-powered predictive tool that identifies which anti-cancer drugs are most likely to be effective for a particular dog’s lymphoma or leukemia
PALO ALTO, Calif., April 13, 2021 (GLOBE NEWSWIRE) — ImpriMed, Inc., a leading veterinary precision medicine startup has recently closed a total of $8 million in Pre-Series A funding with $7.7 million from VCs and the rest as government grant. The funding round was led by HG Initiative and other participants include Draper Associates, Draper Dragon, BonAngels, Murex Partners, Translink Investment, Primer Sazze, FuturePlay, and ES Investor.
ImpriMed utilizes artificial intelligence (AI) to predict which anti-cancer drugs are most likely to be effective for a particular dog’s lymphoma or leukemia using live data generated from chemosensitivity and immunophenotyping assays on the patient’s fresh cancer cells. Its innovative approach to pet cancer care enables veterinary oncologists to make chemotherapy decisions with confidence, knowing quantified drug response predictions prior to actual drug administration.
“ImpriMed is breaking new ground in medicine. Using artificial intelligence to test drugs in pets can lead to solving many diseases in pets and the company could be an onramp for breakthroughs with humans. Enormous opportunity.” Tim Draper, Founding Partner at Draper Associates.
ImpriMed plans to use the new funding to develop additional prediction models for their current target patients in canine blood cancers, scale up their customer network, and expand pipelines to other types of cancers in dogs and cats.
“HG Initiative along with other investors, is a welcome endorsement for ImpriMed’s AI-Driven Personalized Chemo Response Prediction tool and its viability,” said Dr. Sungwon Lim, CEO and Co-Founder at ImpriMed. “We look forward to all the benefits and access this funding will provide to support oncologists and pet parents to improve therapeutic options for their pets and will allow us to develop more finely tuned AI models to increase the accuracy of our service reports,” he added.
ImpriMed has been able to clinically validate their patented technology with a peer-reviewed journal publication in Veterinary and Comparative Oncology that demonstrated an accurate prediction of tumor size reduction and a faster time to remission when using the ImpriMed Chemo Response Prediction service. So far, more than 2,000 services have been provided to community treated canine patients. The benefits include:
- Identifying the right cancer therapy drugs and omitting those that may be ineffective
- Reducing drug treatment costs by excluding ineffective therapeutic options
- Offering a uniquely tailored treatment regimen, based on individualized, data-driven test results
For more information on ImpriMed’s key product, Chemo Response Prediction Service, please visit ImpriMed Service.
About ImpriMed:
ImpriMed provides cutting-edge personalized medicine easily accessible for pets with blood cancer diseases. ImpriMed’s key product, Chemo Response Prediction Service has been used by board-certified veterinary oncologists, helping over 2,000 dogs with lymphoma and leukemia. With ImpriMed’s services, veterinarians make their treatment decisions quickly and with confidence. This innovative approach to cancer care has been published in a scientific journal and presented at major conferences and is supported by over 150 veterinary oncologists at 80+ specialty hospitals in the US. ImpriMed has raised close to $12 million from leading venture capital firms to advance its mission to provide precision medicine for pet cancer care to all. For more information on the company please visit ImpriMed and direct all media inquiries to Sonia Awan, PR for ImpriMed at soniaawanpr@gmail.com.
