ImpriMed, Inc. has raised $8 million in pre-Series A funding, with $7.7 million from venture capitalists and the remainder as a government grant.
FREMONT, CA: ImpriMed, Inc., a pioneering veterinary precision medicine company, raises $8 million in pre-Series A funding, with $7.7 million coming from venture capitalists and the remainder as a government grant. Draper Associates, Draper Dragon, Bon Angels, Murex Partners, Translink Investment, Primer Sazze, FuturePlay, and ES Investor were among the investors in the round, which was led by HG Initiative.
ImpriMed uses artificial intelligence (AI) to determine which anti-cancer drugs will most likely be successful for a specific dog's lymphoma or leukemia by utilizing live data from chemosensitivity and immunophenotyping assays on the patient's fresh cancer cells. Its ground-breaking approach to pet cancer treatment allows veterinary oncologists to make informed chemotherapy decisions based on quantified drug response predictions made before drug administration.
ImpriMed expects to use the latest funding to create more prediction models for their current target patients with canine blood cancers, extend their customer network, and build pipelines for other forms 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.
With a peer-reviewed journal published in Veterinary and Comparative Oncology, ImpriMed was able to clinically confirm their proprietary technology, demonstrating a reliable predictor of tumor size reduction and a quicker time to remission by using the ImpriMed Chemo Response Prediction service. About 2,000 services have been given to community-based canine patients so far.
The benefits include:
Choosing the most effective cancer treatment drugs while avoiding those that might be inefficient.
Lowering drug treatment prices by avoiding ineffective treatments.
Based on individualized, data-driven test results, providing a uniquely customized treatment regimen.