MEDiC Life Sciences, a Mountain View, CA-based functional genomics startup, raised $5M in strategic funding.
The round was led by LG and Hanmi Pharmaceutical.
The company intends to use the funds to accelerate the adoption of its cancer biomarker discovery technology, bolster business development, and advance drug discovery efforts.
Led by CEO Kyuho Han, MEDiC Life Sciences uses its MCAT™ platform to discover new therapeutic targets and biomarkers for solid cancers. In addition to developing its own drug programs, the company delivers novel targets and biomarkers for solid tumor indications being pursued by its partners’ oncology programs.
MEDiC collaborates with pharmaceutical companies, including Bristol Myers Squibb, Hanmi, and other undisclosed U.S. firms, delivering its cancer biomarker/target discovery solution to enhance their cancer drug pipelines. At the core of MEDiC’s innovation is its MCAT™ platform—a next-generation functional genomics platform that measures millions of gene-to-drug interactions, identifying Synthetic Lethality Signature (SLS™) biomarkers. These biomarkers represent multiple genetic mutations that are synthetic lethal when combined with a cancer drug, significantly improving patient response rates. By leveraging SLS™ biomarkers, the company enhances drug efficacy and expands the market potential of cancer therapies by identifying multiple biomarkers with significant prevalence in the patient population.
Previously, MEDiC raised $8M in a Seed round led by a group of investors, including Illumina Accelerator, Top Harvest Capital, Primer Sazze, Big Basin Capital, First In Ventures, Valuence Ventures, Gradient, and Wing Venture Capital.
Commenting on the news, Kyuho Han said: “This investment from LG and Hanmi in a challenging global climate is a strong endorsement of our technology. It will help accelerate the adoption of our solutions among pharmaceutical partners and bring us closer to clinical validation of SLS™ biomarkers. It will also support our efforts in early drug discovery for novel targets identified through our platform, creating additional value for MEDiC.“
FinSMEs
15/10/2024