Merck Global Health Innovation Fund (Merck GHI) is evolving corporate healthcare venture capital globally by utilizing their healthcare ecosystem strategy.  This investment strategy connects innovative companies with complementary technologies to develop integrated healthcare solutions.  Merck GHI has $500M under management and provides growth capital to emerging healthcare technology companies worldwide while leveraging the vast R&D-based, global resources of Merck.  With a vision that data will be the currency in healthcare, GHI invests broadly in digital health.  GHI invests in platform companies with proven technologies or business models where Merck's expertise and perspectives can accelerate revenue growth and enhance value creation.   Since late 2010, Merck GHI has made over 20 investments in Digital Health companies.

Merck Global Health Innovation Fund

Agilent provides laboratory solutions to meet the needs of analytical scientists and clinical researchers worldwide. Agilent works closely with customers to help address global trends that impact human health and the environment and to anticipate future scientific needs. Agilent's solutions improve the efficiency of the entire laboratory, from sample prep to data interpretation and management.

Agilent Technologies

The Mount Sinai Health System is an integrated health care system providing exceptional medical care to their local and global communities. Encompassing the Icahn School of Medicine at Mount Sinai and seven hospital campuses in the New York metropolitan area, as well as a large, regional ambulatory footprint, Mount Sinai is internationally acclaimed for its excellence in research, patient care, and education across a range of specialties. The Mount Sinai Health System was created from the combination of the Mount Sinai Medical Center and Continuum Health Partners, which both agreed unanimously to combine the two entities in July 2013. The Health System is designed to increase efficiencies and economies of scale; improve quality and outcomes; and expand access to advanced primary, specialty, and ambulatory care services throughout a wide clinical network. The Health System includes more than 7,000 primary and specialty care physicians and 12 minority-owned free-standing ambulatory surgery centers. Mount Sinai also features a robust and continually expanding network of multispecialty services, including more than 45 ambulatory practices throughout the five boroughs of New York City, Westchester, and Long Island. It has more than 40 clinical and academic relationships with other local health care organizations. Mount Sinai physicians can be found in more than 300 community locations throughout the New York metropolitan area. With an extraordinary array of resources for the provision of compassionate, state-of-the-art care, the Mount Sinai Health System is poised to identify and respond to the health-related needs of the diverse populations they serve.

Mount Sinai Health System

IBM Ventures is IBM’s venture capital fund. We invest in early-stage enterprise software startups building innovative technologies for the enterprise. To us, that means investing in broad trends that are strategically relevant to the future of IBM – across AI, data, cybersecurity, quantum computing, and sustainability. We are doubling down on our vision of an open and trusted future for enterprise AI with our announcement of a USD 500 million Enterprise AI Venture Fund. While we’ll continue to invest in non-AI related industries, we wanted to underscore our commitment to accelerating AI technologies for the enterprise. At our core, we are laser-focused on investing in, partnering with, and helping build the next generation of great enterprise technology companies – in AI and beyond.

IBM Ventures

Eventide Asset Management, LLC is a Boston-based investment adviser practicing ''investing that makes the world rejoice®.''​ Founded in 2008, Eventide's vision is to serve individuals, financial advisors, and institutions by providing high-performance investments that we believe create compelling value for the global common good.

Eventide

Quest Diagnostics is a multinational clinical laboratory at the forefront of providing the world with diagnostic testing, information and services to empower patients and doctors to make better healthcare decisions.

Quest Diagnostics

Labcorp specializes in providing physicians with laboratory tests.  They develop new tests that provide enhanced accuracy and additional clinical information.  Their customers include physicians and their patients, hospitals and managed care plans, private employers, military and law enforcement agencies, and pharmaceutical and biotechnology companies.

LabCorp

GenHenn Capital is a single-family office that specializes in private equity and venture capital investments.

GenHenn Venture

PreciseDx

PreciseDx is the only Cancer Risk Stratification company to provide patient-specific risk information through the analysis of morphology features, enabling better and more personalized treatment and outcomes. Clinical teams can rely on PreciseDx for unmatched insights and actionable intelligence in determining the best treatment for each patient. Combining the power of artificial intelligence with its proprietary Morphology Feature Array™, PreciseDx creates disease-specific assays that deliver new levels of pathology information and insight on each patient's risk profile and likely outcomes to aid in treatment decision-making.

PreciseDx is a cancer risk stratification company that provides patient-specific risk information through the analysis of morphology features using artificial intelligence (AI). Its proprietary AI-powered Morphology Feature Array platform combines tissue-derived data with clinical information to create personalized risk profiles, predict outcomes, assess disease progression and recurrence risks, and recommend patient management strategies.

PreciseDx Appoints Life Science Experts, Molly Harper and Eric Converse, to Board of Directors

AI-Driven Pathology

PreciseDx Raises $10.75 Million Series A Preferred from Healthcare Industry Leaders to Commercialize Cancer Risk Stratification Services to Support Better Patient Insights and Outcomes

PreciseDx's AI-Enabled Digital Pathology Is the First Proven to Detect Early-Stage Parkinson's Disease

PreciseDx AI-Enabled Breast Diagnostic Gets Approval from NY State

PreciseDx Early Parkinson's Disease

PreciseDx collects $10.75m

PreciseDx Announces Publication in Breast Cancer Research that Validates Its AI-Enabled Platform

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

PreciseDx Raises $20.7M in Series B Funding

PreciseDx is a cancer risk stratification company that provides patient-specific risk information through the analysis of morphology features using artificial intelligence (AI). Its proprietary AI-powered Morphology Feature Array platform combines tissue-derived data with clinical information to create personalized risk profiles, predict outcomes, assess disease progression and recurrence risks, and recommend patient management strategies.
PreciseDx offers breast cancer diagnostic test services, with a prostate cancer test under development. In December 2022, the company's AI-enabled breast cancer diagnostic assay, PDxBr, received approval from the New York State Department of Health, marking a significant regulatory milestone. The PDxBr test enhances breast cancer grading and improves risk categorization over current histopathology methods.
Furthermore, PreciseDx's AI technology has demonstrated remarkable accuracy in diagnosing Parkinson's disease in living patients before severe symptom onset. In a groundbreaking study conducted in collaboration with The Michael J. Fox Foundation, the company's AI algorithms detected Parkinson's pathology in biopsy samples with 99% sensitivity and 99% specificity compared to expert annotations.
PreciseDx's technology is based on intellectual property developed by faculty at the Icahn School of Medicine at Mount Sinai and licensed to the company. Mount Sinai and its faculty hold a financial interest in PreciseDx, and the health system has representation on the company's board of directors.

<div>
 
 Praxis Precision Medicines is a clinical-stage biopharmaceutical company that develops precision medicine for central nervous system disorders based on neuronal imbalance caused by genetic mutations.
 
 
 The company has four clinical-stage product candidates in its pipeline for treating disorders such as depression, epilepsy, movement disorders, and pain syndromes. The company&rsquo;s drug candidates include 1) PRAX-944, which is an inhibitor for essential tremor disorder linked to Parkinson&rsquo;s disease and is set to begin Phase 3 in mid-2023, 2) PRAX-222 in Phase 2 of clinical trials targets the SCN2A gene most commonly associated with early-onset epilepsy, 3) PRAX-562 was designed to block persistent sodium for patients suffering from rare diseases such as headache disorders and severe seizures and completed Phase 1 of clinical trials, and 4) PRAX-628 in Phase 2 clinical trials for treating focal epilepsy that originates in one side or area of the brain and affects one side of the body. Additionally, the firm has six pre-clinical drug candidates.
 
 
 Funding and financials
 
 
 The company went public in October 2020, trading on the Nasdaq Global Select Market under the ticker symbol &ldquo;PRAX&rdquo;. 
 <a href="https://sp-edge.com/updates/19453">
 In June 2023 
 </a>
 , the company announced an underwritten public offering of its common shares and pre-funded warrants, to raise approximately USD 59.1 million. The capital raised was used to support the company&rsquo;s ongoing operations and strategic initiatives, furthering the development of its pipeline and potential future endeavors.
 
 
 For the year 
 <a href="https://sp-edge.com/updates/16211">
 2022
 </a>
 , net losses increased by 28% YoY to USD 214 million arising from a significant increase in R&amp;D expense (up by 29% YoY). For the six months ended June 2023, the company is yet to generate revenue from drugs, however received collaboration revenue of USD 1.5 million. Further, it reported a decline in net loss by 43.0% YoY to USD 34.3 million. Its cash and cash equivalent as of June 2023 was at USD 124.3 million, compared to USD 61.6 million in December 2022, which the company believes will be adequate to fund operations till Q1 2025. 
 
</div>

Praxis Precision Medicines

<div>
 
 Mirati Therapeutics is a commercial-stage biotechnology company developing oncology-targeted therapies to address KRAS mutations present in 25% of tumors, including lung, colorectal and pancreatic cancers. Mirati&rsquo;s lead product KRAZATI (adagrasib/ MRTX849) is an oral&nbsp; KRASG12C inhibitor approved in 2022 for certain non-small cell lung cancers.The company also has sitravatinib, a multi-kinase inhibitor, in Phase 3 trials for non-small cell lung cancer in combination with a Bristol-Myers Squibb checkpoint inhibitor.
 
 
 
 
 Additionally, Mirati is advancing multiple early-stage programs including KRAS G12D inhibitor MRTX1133 for pancreatic and colorectal cancers, which entered Phase 1 in 2023, as well as a synthetic lethal inhibitor MRTX1719. In December 2022, the company submitted an IND application for MRTX1133, a potent and selective KRAS G12D inhibitor, which was cleared by the FDA in January 2023. 
 
 
 Key partnerships and customers
 
 
 
 
 Mirati has multiple partnerships with leading biopharma companies to advance its pipeline, including discovery collaborations with Pfizer and clinical collaborations with Novartis, Boehringer Ingelheim, and 
 <a href="https://sp-edge.com/updates/14345">
 Incyte
 </a>
 . The company also has licensing agreements with BeiGene for sitravatinib and Zai Lab for MRTX849 in certain Asian markets.
 
 
 
 
 
 Funding and Financials
 
 
 
 
 The company went public in June 2013 to trade on Nasdaq under the ticker symbol &ldquo;MRTX&rdquo;. In August 2023, the company closed an 
 <a href="https://sp-edge.com/updates/20988">
 underwritten public offering
 </a>
 at USD 345 million. The new funds were used towards drug development and leadership expansion.&nbsp;
 
 
 
 
 <a href="https://sp-edge.com/updates/16725">
 For the year 2022 
 </a>
 , the firm's net losses increased to USD 740.9 million from USD 581.8 million. Net product revenue for the full year amounted to USD 0.7 million arising from the sale of KRAZATI, which received FDA approval for its commercial launch in December 2022. 
 
</div>

Mirati Therapeutics

<div>
 
 Tvardi Therapeutics is a clinical-stage biotechnology company developing precision medicine for different cancers, chronic inflammatory diseases, and fibrotic diseases. The company&rsquo;s pipeline focuses on the development of small-molecule inhibitors of STAT3, a regulatory protein that allows cancer cells to evade the immune system and survive.
 
 
 The company&rsquo;s orally administered monotherapy and lead product, TTI-101, is in Phase 1 clinical trials for patients with advanced solid tumors who have failed all other lines of therapy. Additionally, the drug is in preclinical trials for treating fibrosis and inflammation. The company is also developing TTI-102, a next-generation STAT3 inhibitor that is structurally similar but chemically different from TTI-101.&nbsp;
 
 
 Founded in 2017, the Texas-based company closed a Series B funding round in June 2021, which brought total funding to USD 81 million and the proceeds will be used to advance Tvardi&rsquo;s drug candidates through its clinical data readouts in mid-stage trials for cancer and fibrosis.
 
</div>

Tvardi Therapeutics

<div>
 
 Tango Therapeutics is a clinical-stage biotech company developing precision oncology therapies targeting synthetic lethality in cancer which leads to cell death. Its discovery platform identifies novel targets to develop drugs focused on: 1) countering tumor suppressor gene loss to help the immune system recognize and kill cancer cells, and 2) reversing cancer cell evasion of the immune system.
 
 
 
 
 Tango has five pipeline programs, including lead candidate TNG908, an inhibitor for multiple cancer indicators. The FDA approved TNG908's IND in January 2022 and granted it Orphan Drug Designation. TNG908 is in Phase I/II trials, with preliminary efficacy data expected in H1 2023. Tango also plans to file INDs for TNG260 (STK11 mutant cancers) and TNG348 (BRCA1/2-mutant cancers). In 
 <a href="https://www.globenewswire.com/news-release/2023/01/25/2595034/0/en/Tango-Therapeutics-Announces-FDA-Clearance-of-Investigational-New-Drug-Application-for-TNG462-Provides-Additional-Business-Updates.html">
 January 2023
 </a>
 , the FDA cleared the IND for TNG462, a next-gen PRMT5 inhibitor for cancers with MTAP deletion.
 
 
 
 
 Key partnerships and customers
 
 
 
 
 
 Outside its pipeline, the company also entered into a collaborative partnership with big pharma Gilead Sciences Inc., in October 2018 which was later expanded for two years in August 2020 to identify new immune evasion targets.
 
 
 
 
 Funding and financials&nbsp;
 
 
 
 
 
 Tango went public in August 2021 via a SPAC deal, trading on Nasdaq under the ticker symbol &ldquo;TNGX&rdquo;, and the company received gross proceeds of USD 353 million. In August 2023, the company raised USD 80 million via a 
 <a href="https://sp-edge.com/updates/20955">
 private placement
 </a>
 , which was led by Nextech. The new funds were used toward expanding its TNG908 and TNG462 PRMT5 programs to various other indications.
 
 
 
 
 Tango has not yet generated any drug sales and does not expect to do so for several years. However, for the full-year the company reported collaboration revenue of USD 24.9 million (down 4.42% YoY) and a net loss of USD 108.2 million (up 85.9% YoY).
 
 
 
</div>

Tango Therapeutics

<div>
 
 IDEAYA Biosciences is a clinical-stage biotech developing precision cancer therapies based on synthetic lethality - when specific gene mutations pair to cause cell death. The company also studies combining synthetic lethality with immunotherapies and DNA damage to enhance treatment efficacy. While current drugs target limited mutations like BRCA1/2, IDEAYA aims to treat broader genetic subpopulations.&nbsp;
 
 
 
 
 Its pipeline includes synthetic lethality-driven precision medicines across four potential first-in-class clinical-stage product candidates. Of these, the company owns/controls commercial rights of the three most-advanced of these product candidates: darovasertib, IDE397, and IDE161. As of May 2024, the company was also advancing Werner Helicase program for which a development candidate has been selected in collaboration with GlaxoSmithKline, and, subject to investigational new drug-, or IND-, enabling studies, are targeting an IND in 2024. In addition. the company also works on multiple earlier-stage preclinical programs. 
 
 
 By targeting specific genetic drivers, IDEAYA advances precision oncology using synthetic lethality approaches. The company is focused on developing novel targeted therapies for patient populations with high unmet need and limited treatment options.&nbsp;&nbsp;
 
 
 In December 2023, IDEAYA Biosciences teamed up with Gilead Sciences to test the combination of IDE397 and Trodelvy in a Phase I clinical trial for MTAP-deletion bladder cancer.
 
 
 
 
 Key partnerships and customers
 
 
 
 
 The company collaborates with pharmaceutical partners to advance its pipeline, including a strategic partnership with GSK in June 2020. The collaboration with GSK covers co-development and commercialization of two synthetic lethality programs. IDEAYA received USD 100 million upfront and USD 20 million in a direct private placement through the GSK deal. In June 2022, IDEAYA announced it would co-develop its Pol Theta candidate with GSK, with a Phase 1 trial starting in the first half of 2023.&nbsp;
 
 
 
 
 IDEAYA also holds an exclusive license from Novartis for LXS196 (IDE196), a PKC inhibitor for metastatic uveal melanoma. Additionally, the company is exploring IDE196 combinations with Pfizer and its potential in other rare skin diseases. In July 2022, IDEAYA signed an agreement with Amgen to evaluate IDE397 with Amgen's AMG 193 in solid tumors. Strategic pharma partnerships help advance and expand IDEAYA's pipeline of synthetic lethality precision oncology programs.
 
 
 
 
 Funding and financials
 
 
 
 
 
 The company was listed on the Nasdaq Global Select Market under the ticker symbol &ldquo;IDYA&rdquo; in May 2019, raising USD 50 million via an initial public offering. In September 2022, the company raised USD 92 million.&nbsp;
 
 
 
 
 For 2022, the company reported a net loss of USD 58.7 million (up 17.9% YoY) while collaboration revenue was USD 50.9 million (up 82.3% YoY). 
 
 
 On October 24, 2023, IDEAYA Biosciences priced an underwritten public offering of 5 million shares of common stock and pre-funded warrants to purchase 319,150 shares of common stock. The common stock offered was priced at USD 23.50 per share, while the exercise price of a pre-funded warrant was USD 0.0001. The offering was expected to bring in approximately USD 125 million in gross proceeds.
 
 
 
</div>

IDEAYA Biosciences

Companies providing genetic tests to identify individuals with high risk or at-risk of having hereditary disease, aid physicians with a diagnosis, and support clinical decision making.

Secure cloud-based platforms and data sharing networks that collect, index, store, and analyze large amounts of health data and patient population data sets from sources including genomic, clinical, wearables, imaging, and population data.

Biopharma and biotechnology companies that develop precision medicine drugs based on novel disease biomarkers present in multi-omic patient population data and genetic insights.

Companies that study intergenomic variations in genes associated with drug response and metabolism to match patients with the appropriate drug and dosage.

Companies that develop an in-vitro medical device or imaging tools and tests that identify genetic mutations for both diagnostic (nature of the disease) and prognostic (likely course of the disease) purposes, allowing providers to match a patient to a specific drug or therapy.

Software analytics platforms that integrate multiple omics datasets (genomics, transcriptomics, proteomics, and metabolomics) to gain insights and support target discovery, drug development, clinical trials, and diagnostics.

Some companies leverage AI/ML to develop tailored medication

Considers individual variability in genes, environment, and lifestyle for each person

Genomics is used across all the segments of precision medicine from diagnostic solutions to treatments

AI/ML analyzes genomic data to find drug targets, predict disease progression, and treatment response

ANALYST_QUICK_TAKE

<div>
PreciseDx, a medical diagnostics company, recently secured USD 20.7 million in a Series B financing round. This fundraising was led by Eventide Asset Management and it also involved Labcorp, Quest Diagnostics, and GenHenn Capital Venture. With this latest financing round added, the company's total funds raised now totals USD 31.5 million. 

The acquired funds are set to be invested in advancing detailed clinical trials which aim to verify the effectiveness of PreciseBreast (PDxBr). This is an early-stage risk assessment tool that is used for diagnosing invasive breast cancer. This diagnosis is irrespective of the HER2 and hormone receptor status of the patient. These clinical trials will be executed in a specific clinical environment to prepare the tool for market launch. 
</div> Analyst QuickTake: 
 In May 2024, Precise DX and COTA <a href="https: 
//sp-edge.com/updates/29905"> partnered with Baptist Health </a> South Florida to assess the performance of PDxBr test for assessing the risk of invasive breast cancer recurrence. The validation assessment was expected to compare PDxBr’s results to traditional pathology reviews and 21-gene assay results. The latest funding is expected to support this clinical trial.

PreciseDx

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