SEATTLE, Wash., Oct. 02, 2019 (GLOBE NEWSWIRE) -- SEngine Precision Medicine, an oncology pioneer accelerating cancer drug discovery through its CLIA certified, proprietary diagnostic platform PARIS®, today announced closing of a $5.1MM Series A investment round. The round has been led by the Bangarang Group with participation from various family offices and returning investors. This brings SEngine’s total funding to date to more than $9MM.
SEngine’s high-throughput screening technology simultaneously tests dozens of targeted anti-cancer agents against a patient's unique cancer cells outside the body via patient-derived 3D tumor organoids. The results decode the most effective and least toxic treatment options in just weeks, which DNA sequencing alone cannot reveal. The AI-optimized platform leverages the aggregated, anonymized test results to develop new cancer-fighting drugs.
The PARIS® Test is currently utilized by leading oncologists throughout the United States to predict and validate personalized treatment options for their patients. SEngine Precision Medicine and Atomwise, Inc. recently announced a joint venture to accelerate novel oncology drug discovery utilizing the unique platform technologies each company has validated through years of development.
“We’re thrilled with SEngine’s technological progress which is being utilized to help cancer patients today, and we continue to see the immense potential for Dr. Grandori and her world-class team to radically transform cancer care through their personalized diagnostic platform and novel drug discovery program,” said Elliott Burkland, representing the Bangarang Group. “We’re at a fascinating moment in medicine and SEngine’s platform offers an opportunity to transform a faltering standard of care.”
“This round of financing positions us to move quickly to both commercialize and scale our technology,” said Dr. Carla Grandori, SEngine Precision Medicine Founder and CEO. She continued, “We’re proud of the market validation and our clinical validation to continue to advance efforts we believe will revolutionize personalized and effective cancer care. We’ve assembled a stellar global team of proven biotech leaders and two of our generation’s greatest scientific minds as advisors to guide our continued success.”
Nobel Prize Laureate and past President of the Fred Hutchinson Cancer Research Center Dr. Leland Hartwell and Pulitzer Prize-winning author and oncologist Dr. Siddhartha Mukherjee both serve in senior advisory roles for SEngine.
ABOUT SENGINE PRECISION MEDICINE: Founded in 2015, SEngine Precision Medicine is a privately held biotech startup, a spin-off of the Fred Hutchinson Cancer Research Center, in Seattle, WA founded to identify and develop the next generation of cancer targeted drugs. Discover more at SengineMedicine.com and follow the latest news from SEngine on Twitter at @SEngineMedicine and on LinkedIn.