Bio-tech Firm Successfully Raises $33 Million and Hires New Executives
Nucleai, a bio-tech firm from the State of Israel, has successfully managed to raise funding of no less than $33 million in its most recent Series B financing round. The main participants of the round were Sanofi Ventures and Section 32. After this financing round, the company’s total funding is currently standing close to a figure of $50 million. This is the overall sum of funding raised by Nucleai ever since its inception four years ago. As of now, the AI-powered corporation is hoping to utilize its funds to develop its current platform. Consequently, it hopes to expand and establish its commercial footprint throughout the biopharmaceutical field.
It aims to pay special attention to research organizations that are currently in the process of applying Nucleai’s technology throughout clinical trials, translational research, as well as for drug discovery. Moreover, the CEO of Nucleai, Avi Viedman, further added that the company’s vision is to ensure that spatial biology is brought to the forefront, where precision medicine is concerned. He hopes that it can embed the use of its platform in all clinical trials that involve tissue, over the next couple of years. In his words, Nucleai is quite happy to bring world-class investors on board, especially those who are passionate about the company’s vision to change the face of clinical treatments and drug development.
According to the CEO, the company is going to transform biopharmaceuticals by combining big data, artificial intelligence, a comprehensive software platform, and spatial biology. Furthermore, Nucleai did not only have a successful closing round, but also hired a couple of new members for its executive staff. Andy Harrison will now be the managing partner at Section 32 and Cris De Luca, who works as the global chairman of digital investments for Sanofi Ventures, will now be part of the company’s board of directors. The managing partner of Section 32, Michael Pellini, MD, will be joining the board of Nucleai as well, but only as an observer.
Harrison added that using spatial mapping technology to map biological micro-environments is an area of discovery that is making way for innovative and advanced diagnostic tools, as well as new therapies. He talked about how the company has created a platform that allows spatial analysis to be operational and scalable. According to him, this has enabled the next generation to take actionable insights from large pathology data sets, which have not yet been analyzed. He further added that these have yet to be assessed for their complete potential, especially to provide substantial value to diagnostic labs and pharmaceutical companies.
Meanwhile, De Luca praised the achievements and rapid growth of the team at Nucleai, which have allowed them to be positioned to become platform leaders in spatial technology. He stated that their experience and qualifications in the field have allowed them to transform the current approaches being taken for pathology. He went on to assert that using artificial intelligence along with spatial and other data modalities has enabled the company to equip its clinicians and researchers with better decisions for treatment.