ImpriMed, a California-based precision medicine startup, is making waves with its AI-powered dog cancer treatment technology. The company focuses on developing personalized drug efficacy prediction services and aims to expand its precision medicine technology for human oncology applications.
Key Takeaway
ImpriMed, known for its AI-powered dog cancer treatment technology, is now venturing into human oncology with the aim of personalizing cancer treatment regimens for individual patients using existing drugs. The startup’s successful fundraising and strategic partnerships position it for significant advancements in the field of precision medicine.
Expanding Technology
ImpriMed’s co-founder and CEO, Sungwon Lim, expressed the startup’s intention to broaden its ex-vivo live-cell technologies from canine and feline blood cancers to human blood cancers. Lim highlighted the transferable nature of their AI algorithms from veterinary oncology to human oncology, with plans for commercialization within the next one to two years.
Series A Funding and Strategic Partnerships
ImpriMed recently secured $23 million in its Series A round, bringing its total raised to $35 million. The funding, led by SoftBank Ventures Asia, will support the company’s expansion into human oncology. Additionally, ImpriMed expects to collaborate with strategic investor SK Telecom, a major South Korean telco company. The startup’s partnership with SK Telecom, known for its AI-based veterinary X-ray image diagnosis technology, holds promise for further advancements in the field.
Commercialization and Future Plans
ImpriMed’s veterinary services, which have already generated revenue, offer personalized drug efficacy prediction services for canine and feline cancers. The company plans to leverage its AI software for human precision oncology, with a focus on commercializing its services for rare blood cancers by 2025. Furthermore, ImpriMed aims to expand its contract research organization service for human acute myeloid leukemia and non-Hodgkin’s lymphoma before the end of 2024.