Innosign To Transform Precision Medicine With New Funding
healthcaretechoutlook

Innosign To Transform Precision Medicine With New Funding

Healthcare Tech Outlook | Monday, April 11, 2022

InnoSIGN will use its unique database of over 100,000 pathway activity patterns to predict patient response to targeted medicines, as it completes series A Financing.

Fremont, CA: “I am excited with the investment and sponsorship from this strong syndicate of US and Dutch investors,” states Paul van de Wiel, CEO and co-founder of InnoSIGN.  A precision medicine business, InnoSIGN, has raised $8 million in Series A funding. The funds will be utilised to fund a Royal Philips spin-off to create a separate firm based on the OncoSIGNal pathway activity profiling technology. Casdin Capital, Life Science Angels, Thuja Capital, and Brabant Development Agency are among the investors in the round. Philips holds a small portion of the new company.

“This funding round will enable us to demonstrate the added value of OncoSIGNal compared to standard technologies for the better understanding of cell behavior, which is highly relevant to physicians when selecting the optimal personalized therapy for cancer patients,” adds Wiel.

“As the limitations of DNA sequencing and protein analysis have become clear during the last years, we believe InnoSIGNs proprietary mRNA-based signalling pathway tests, database with pathway activity profiles, and advanced analytics software will drive the next breakthroughs in precision medicine, initially in oncology, and then in other autoimmune and infectious disease," comments Allan May, chair of Life Science Angels and investor.

OncoSIGNal mRNA-based diagnostics, which monitor the activity of signal transduction pathways in cancer and immune cells to predict how patients will respond to targeted treatments, are commercialized by InnoSIGN. The OncoSIGNal qPCR 7 pathway test is available for Research-Use-Only, allowing research labs to use traditional PCR machines in conjunction with the OncoSIGNal cloud-based data analysis software to execute the test. With the financing, InnoSIGN will be able to carry out its ambitious growth goals by taking advantage of a first mover advantage to complete more clinical validation studies and enter the US market. The primary R&D facility of InnoSIGN Inc., a US-based corporation, will remain at the High Tech Campus in Eindhoven, The Netherlands.

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