NEW YORK – Outcomes4Me, a firm that offers artificial intelligence-powered platforms to improve patient education and their access to personalized cancer care, said on Wednesday that it has raised $12 million in an oversubscribed Series A financing round led by Northpond Ventures.
Existing investors Sierra Ventures, Asset Management Ventures, Merstal, and IRA Capital, among others, also participated in the round. Additionally, Andrea Jackson, a director at Northpond Ventures, will join Outcomes4Me's board of directors.
Outcomes4Me will put the new funding toward expanding its reach to patients with additional cancer types beyond breast cancer — its original focus — and to patients in Europe. As part of its mission to help empower patients with information about their cancer diagnoses and guide them through their treatment journeys, Outcomes4Me will continue to improve its platform, which provides personalized information, including information about genomic testing, to help match patients with treatment options and clinical trials.
The company has conducted research to highlight current gaps in access to personalized cancer care. Last year, the firm surveyed around 200 advanced breast cancer patients in partnership with Foundation Medicine, which provides next-generation sequencing tests for guiding cancer treatment, and found that just one-in-three patients had been offered genomic testing.
Through the AI-powered app, patients can also opt in to contribute their clinical information to real-world datasets, which the firm said will help advance precision medicine research.