Scipher Medicine, an AI-powered precision immunology platform that matches patients with effective therapy, announced the completion of its $82 million Series C financing led by aMoon and Northpond Ventures.
Echo Health Ventures and existing investors Khosla Ventures and Alumni Ventures also participated. To date, Scipher Medicine has raised $117 million. According to the company’s statement, the new financing will support the commercialization of its precision medicine PrismTM portfolio of blood tests and data partnerships in autoimmune diseases with payers, providers, and pharma.
“With more data being generated from tested patients every day, we are continuously serving our provider, payer, and pharma partnerships with unique insights into the most optimal treatment pathway for patients with autoimmune diseases,” said Alif Saleh, Chief Executive Officer at Scipher.”
Scipher Medicine aims to commercialize blood tests, leveraging its network medicine platform and artificial intelligence. Its precision immunology platform will reveal a persons’ unique molecular disease signature and match such signature to effective therapy, the company said. The company works with payers, providers, and pharma along the health care value chain to deliver precision medicine to autoimmune diseases.
“There is a significant opportunity to bring precision medicine solutions to autoimmune diseases, especially for rheumatoid arthritis, to address a critical unmet need,” said Todd Sone, General Partner at aMoon. “We are incredibly excited about PrismRA and honored to join Scipher on this journey towards a future where precision medicine is applied across healthcare to ensure patients are prescribed the most effective therapy.”
Digital Health companies raised $14.8 billion in 2020, a 66% increase compared to $8.9 billion in 2019. Recently, Syapse, a precision medicine company, announced the closing of a $68 million growth equity investment round. Tempus, an AI-powered precision medicine company, announced an additional $200 million financing at a post-money valuation of $8.1 billion. Tempus has raised over $800 million to date.