Investment to
Accelerate Molecular Diagnostic Product Selection, Development and
Accessibility
February 19, 2020
07:30 AM Eastern Standard Time
WALTHAM, Mass.--(BUSINESS WIRE)--Scipher Medicine, a developer of a molecular technology
platform used to ensure patients are prescribed the most effective therapy,
announced an investment from Optum Ventures, the independent venture fund of
Optum. Under the terms of the agreement, Optum Ventures has made an equity
investment in Scipher Medicine to accelerate the company’s efforts to improve
patient outcomes by using molecular diagnostics to identify the best therapy
prior to treatment initiation.
Scipher Medicine is bringing personalized care
to diseases that are currently managed by a one-size-fits-all approach by
developing a battery of drug response tests aimed at enabling physicians to
select optimal therapy based on an individual patient’s biological signature.
“Outcomes can be improved dramatically when
patients are prescribed the right therapy from day one,” said Alif Saleh, CEO
of Scipher Medicine. “By identifying a patient’s disease on a molecular level,
in real time, we can match this signature to the most effective drug and
provide physicians with vital information in support of selecting the best
treatment.”
Optum Ventures' investment will be used to
accelerate Scipher’s focus on autoimmune conditions, with the intent to broaden
the collaboration into a variety of difficult to treat complex diseases across
patient population.
The investment by Optum Ventures represents a
second close in Scipher Medicine’s previously announced Series B round.
About Scipher Medicine
Scipher Medicine holds the fundamental belief
that patients deserve simple answers to their treatment options using
scientifically backed data. With artificial intelligence and its proprietary
molecular technology platform, Scipher Medicine develops innovative diagnostic
tests that predicts which drug will work from day one and use the data from
these tests to develop more effective therapies to improve patient outcomes.
Scipher Medicine is privately held,
headquartered in Waltham, Massachusetts, and backed by Khosla Ventures,
Northpond Ventures and UnitedHealth Group. To learn more, visit
ScipherMedicine.com.
About Optum Ventures
Optum Ventures is the independent venture fund
of Optum, a leading information and technology-enabled health services business
dedicated to helping make the health system work better for everyone, and part
of UnitedHealth Group. Optum Ventures invests in health companies that use data
and insights to help improve consumers' access to health care services and how
care is delivered and paid for, and that make the health care system more
reliable and easier to navigate. For more information, visit www.optumventures.com.
Contacts
Cammy Duong
Canale Communications
cammy@canalecomm.com
Canale Communications
cammy@canalecomm.com
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