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        Iterative Scopes, a precision medicine company focused on gastrointestinal (GI) disease technologies and software, has raised USD 150 million in Series B funding co-led by Insight Partners and Clearlake Capital Group with participation from Obvious Ventures, Johnson and Johnson Innovation-JJDC Inc., Eli Lilly, and Breyer Capital, among others.
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        The funds will be used to expedite the development of its core AI technology products and services that are focused on gastroenterology care. The company plans to scale its technical and clinical operations teams and support the application of its computational software in areas such as AI clinical trial recruitment services, automated polyp detection, and novel endoscopic scoring systems.&nbsp;
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        Iterative Scopes&rsquo; AI-powered software and computer vision technology help pharmaceutical companies accelerate their inflammatory bowel disease (IBD) clinical trials by accelerating the patient recruitment process and optimizing patient care through automated polyp detection for colorectal cancer screenings.
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    <a href="https://www.businesswire.com/news/home/20220119005231/en/Iterative-Scopes-Announces-150-Million-Series-B-to-Advance-AI-Driven-Precision-Medicine-for-Gastroenterology">
      Business Wire
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Precision Medicine

Iterative Scopes raises USD 150 million in Series B funding

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 <p>ABVC BioPharma's subsidiary, AiBtl BioPharma, has acquired precision medicine manufacturer TT Life Company. The deal involved the purchase of 1.66 million shares at USD 5.00 per share, putting the deal's value at around USD 8.33 million. Other acquisitions included a Malaysian import trading company and a Taiwanese direct sales company.</p>
 <p>Taking advantage of TT Life Company's expertise in product design and manufacturing, the acquisition is expected to create synergies across research &amp; development, manufacturing, distribution, and financial capabilities. This could allow AiBtl to introduce a broad range of AI-driven precision medicines.</p>
 <p>As a biopharmaceutical company, AiBtl BioPharma focuses on the development of innovative therapies for central nervous system disorders such as major depressive disorder (MDD) and ADHD. Their approach involves the use of plant-based norepinephrine transporter inhibitors, currently in clinical trials. One drug is in Phase IIb trials, while another has finished Phase II and is moving towards Phase III. While the company operates from the United States, it has substantial activities in Asia, with clinical trials conducted in Cambodia, Thailand, and Japan.</p>
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AiBtl BioPharma acquires TT Life Company to broaden precision product portfolio

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 <p>Diamyd Medical has recently concluded its company rights issue which ended on April 16, 2024. Several key individuals including the founder and chairman of the board, Bertil Lindkvist, who is also the company’s principal shareholder, as well as other top-ranking executives and board members were among the subscribers in the issue.</p>
 <p>The Rights Issue consists of 9,494,799 units, with 4,216,203 units being subscribed for with unit rights, making up approximately 44% of the complete issue. Subscriptions for 558,779 units have been received without unit rights, which represent roughly 6% of the total units offered. The company has announced that it expects the final proceeds from the Rights Issue to be around SEK 57 million, or approximately USD 5.2 million once costs have been deducted, however it has not yet announced the intended use for these funds.</p>
 <p>As part of their ongoing strategy, Diamyd Medical has stated that they plan to persist in their current line of work, particularly following the recent <a href="https://www.diamyd.com/docs/pressClips.aspx?ClipID=4751158#:~:text=About%20Diamyd%20Medical&amp;text=Diamyd%C2%AE%20is%20an%20antigen,designation%20by%20the%20U.S.%20FDA."> receipt of FDA Fast Track designation for their Diamyd therapy product (rhGAD65/alum) </a> , which is being developed to improve glycemic control in those with Stage 3 type 1 Diabetes who possess the genotype HLA DR3-DQ2.</p>
 <p>Diamyd Medical is a company rooted in Sweden that is known for its specialty in developing precision medicine therapies for autoimmune diabetes, including type 1 Diabetes and Latent Autoimmune Diabetes in Adults (LADA). The companies innovative approach to preserving naturally occurring insulin production through their leading product, Diamyd, which is an antigen-specific immunotherapy, sets it apart within its field.</p>
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Diamyd Medical secures ~USD 5.2 million in rights issue

PROMINENT_CATEGORY

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 <p>Genetic Technologies has entered an agreement to sell 1,000,000 American Depositary Shares (ADSs) at USD 2.00 each, along with unregistered warrants to purchase up to 1 million ADSs in a private placement. The gross proceeds are expected to be around USD 2 million.</p>
 <p>The proceeds will help in the commercialization of the GeneType Multi Risk test, support digital strategy, expansion into European and Southeast Asian markets, launch its Comprehensive Hereditary Breast and Ovarian Cancer Risk Test, and other corporate purposes.&nbsp;</p>
 <p>The company has also established a precision oncology division to aid in effective cancer therapy selection. The diagnostic tests feature methylation tests developed in collaboration with the University of Melbourne Department of Surgery, solid tumor mutation, and liquid biopsy tests.</p>
 <p>Genetic Technologies is based in Australia and specializes in predictive genetic testing and risk assessment tools. The company offers tests like BREVAGenplus for non-hereditary breast cancer and GeneType for various cancers including colorectal, ovarian, and prostate.</p>
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Genetic Technologies raises USD 2 million in direct offering to fund product and market development

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 <p>SOPHiA GENETICS and Unilabs have embarked on a collaborative project. The SOPHiA DDM Platform will be rolled out across Unilabs' Swiss network, enabling testing for HRD status in solid tumors and providing faster analysis.</p>
 <p>HRD, or 'Homologous Recombination Deficiency', is caused by a cell's inability to mend its DNA via the homologous recombination repair (HRR) pathway. This is most commonly seen in ovarian cancer. SOPHiA DDM employs AI technology to analyze and interpret raw data through next-generation sequencing (NGS), which provides reliable HRD results that are essential for tailored treatment plans.</p>
 <p>Unilabs is a Switzerland-based company that offers clinical laboratory testing and medical diagnostic imaging services across Europe. It expanded significantly thanks to a merger with Capio Diagnostics in 2007, extending its reach to include Sweden, Norway, Finland, Denmark, and the UK. Its offering encompasses laboratory medicine, cellular pathology, and medical imaging.</p> 

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Unilabs deploys SOPHiA GENETICS' platform to support ovarian cancer diagnostics in Switzerland

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 <p>Bionano Genomics has partnered with China-based company, Diagens, aiming to commercialize a cytogenetic workflow using optical genome mapping (OGM) and AI chromosome karyotype analysis. The technology is intended to detect pathogenic SVs associated with recurrent pregnancy loss and significant genome variants that could cause prenatal or postnatal complications.</p>
 <p>Under the agreement, Diagens will get the Saphyr instrument registered for clinical use with China's National Medical Products Administration (NMPA), which will use Bionano's OGM reagents, already approved and Class I registered.</p>
 <p>Bionano Genomics specializes in genome analysis and has developed the Saphyr system for conducting structural variation analysis using OGM. Their products include OGM, dedicated software, nucleic acid purification, and data services.</p>
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Bionano and Diagens sign partnership to commercialize clinical cytogenetic analysis powered by optical genome mapping and AI

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 <p>Merck KGaA has introduced the Aptegra CHO genetic stability assay, a system leveraging whole genome sequencing and bioinformatics. They assert this innovation enhances biosafety tests for biotech firms. </p>
 <p>Currently, FDA guidelines require biotech companies to utilize multiple assays to satisfy genetic stability requirements. This traditional group of assays not only costs time and money but often produces data that needs further analysis. The proposed Aptegra platform is said to overcome these hurdles by replacing five assays and four technologies with just one assay using next-generation sequencing technology.</p>
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Merck KGaA launches Aptegra CHO genetic stability assay

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 <p>Cullinan Therapeutics has raised approximately USD 274 million through a private placement. The company sold its common stocks at $19.00 per share to institutional and accredited investors. The fundraising also included $6 million worth of pre-funded warrants to buy the company's common stocks at $18.99 per warrant. Each warrant comes with an exercise price of USD 0.001. The total gross proceeds from the round are anticipated to be around USD 280 million, not including applicable fees and expenses. Participants in the round included Blue Owl Healthcare Opportunities, Paradigm BioCapital, RTW Investments, among others.</p>
 <p>The funding will be used to support Cullinan's research and development activities, particularly its CD19xCD3 T-cell engager clinical program which targets autoimmune diseases. It will also cater for the company's general corporate and working capital needs.</p>
 <p>Previously known as Cullinan Oncology, Cullinan Therapeutics is a biopharmaceutical firm that focuses on creating targeted therapies for oncology and autoimmune diseases. The company changed its name in 2024 to reflect its expansion into the studying of autoimmune diseases, in addition to its oncology research. Cullinan Therapeutics' pipeline includes four candidate therapies in clinical trials for various types of cancer: CLN-081, CLN-049, CLN-619, and CLN-418. Additionally, CLN-978, a prospective treatment that targets diseases such as systemic lupus erythematosus, is also under development.</p>
 
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Cullinan Therapeutics secures USD 280 million via private placement to support ongoing R&D projects and general corporate needs

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 <p>Biotechnology company Macrogen has entered a three-year supply deal with encryption technology company CryptoLab in an effort to enhance the privacy of genomic data. The South Korea-based firm will integrate CryptoLab's encryption tool, the HEaaN Genome Analysis Solution, into its personalized genome analysis services. This technology enables data to be processed and analyzed while remaining encrypted, ensuring heightened data privacy.</p>
 <p>Offering services such as DNA sequencing, oligonucleotide synthesis, and personalized genetic analysis, Macrogen operates in various sectors including pharmaceutical manufacturing and scientific research. With this partnership, the company reinforces its commitment to ensuring customer data protection in both clinical and research settings.</p>
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Macrogen signs contract with CryptoLab to enhance genomic data privacy with encryption technology

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 <p>Genomate Health has obtained USD 2.25 million in funding, though detailed information about the series and investors remains undisclosed. The firm intends to use this capital to further develop its AI-based Genomate computational model which is a universal computational reasoning model intended for precision oncology. This model aims to predict how cancer patients might respond to various targeted treatments. Furthermore, Genomate Health is determined to pursue FDA approval for its platform.</p>
 <p>As a digital health company, Genomate Health focuses on developing computational solutions that enable personalized medicine. Among its major products is an AI-powered clinical decision support apparatus constructed to match targeted therapies with each patient's complete available molecular information. In doing so, they are aiming to create a more personalized approach to cancer treatment.&nbsp;</p>
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Genomate raises USD 2.25 million in funding to develop model to predict therapeutic drug responses

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 <p>Clarified Precision Medicine, a company specializing in personalized therapy options for oncologists, has raised USD 1.2 million in a seed funding round. The leading investor was Avestria Ventures, and Joyance Partners also participated in the round.</p>
 <p>While it hasn't been specified what the funds will be used for, the company's focus is currently set on commercialization and growth efforts.</p>
 <p>The firm utilizes an algorithm to analyze next-generation sequencing (NGS) lab results, and collaborates with oncologists to interpret genomic test results. This helps in recommending the most suitable targeted treatment. The key products of the company, ClarifiedSelect and OncoGuardian, analyze genomic profiling tests to provide targeted treatment recommendations.</p>
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All Updates