C2i Genomics Raises $100 Million To Commercialize the Detection of Tiny Traces of Cancer Using AI and Whole Genome Sequencing
Led by Casdin Capital, the funding comes just ten months after the company’s Series A financing and will be used to expand C2i’s global network of clinical and drug development partnerships
C2i Genomics, a cancer intelligence company, today announced $100 million in financing led by Casdin Capital with participation from NFX, Duquesne Family Office, Section 32, iGlobe Partners, Driehaus Capital and others. The funding will accelerate clinical development and commercialization of the company’s C2-Intelligence Platform, a cancer diagnostics service that uses AI pattern recognition and whole-genome analysis to provide rapid and accurate detection of residual disease that is up to 100x more sensitive than competing technologies.
Solving for Cancer’s Biggest Problems – Over and Under Treatment
When a tumor is surgically removed today, tiny amounts of residual cancer cells may remain at a level that is undetectable with imaging or current blood-based technologies. Due to this uncertainty, patients are often unnecessarily overtreated with toxic chemotherapy or radiation. Others may not receive the necessary treatment while cryptic, residual cancer quietly progresses and metastasizes throughout the body. With the C2-Intelligence Platform, physicians can spot trace amounts of persistent or recurrent cancer much earlier, at far lower levels, to inform better treatment decisions and ultimately save lives. The cloud-based technology can be deployed globally at scale to provide actionable insights into the progression of any patient’s cancer as rapidly as in one week, enabling informed and timely treatment decisions.
“We’re thrilled with the C2i team’s progress in scaling their cancer intelligence platform since closing their Series A less than a year ago,” said Eli Casdin, Chief Investment Officer and Founder of Casdin Capital. “We’re excited to deepen our partnership with this new funding and help them solve the massive problem of over and under treatment of cancer.”
The C2i Intelligence Platform is GDPR and HIPAA compliant and is currently being used for both clinical research and drug development in multiple locations around the world, including the National Cancer Centre Singapore (NCCS), Aarhus University Hospital, NYU Langone Health, Lausanne University Hospital (CHUV), and others.
In addition to advancing clinical development, pursuing regulatory approvals, and seeking positive reimbursement decisions, C2i Genomics also plans to use the new financing to expand its partnerships with pharmaceutical companies. These partnerships will both accelerate the development of novel cancer treatments and optimize the timing of treatment delivery to patients based on highly-sensitive recurrence detection.
“As a cancer survivor myself, I founded C2i to help patients and physicians navigate the complicated cancer treatment process with better intelligence,” said Asaf Zviran, co-founder and CEO of C2i Genomics. “I am beyond grateful for the backing of this incredible list of investors to help give cancer patients the precision and certainty they expect and deserve.”
C2i’s executive team brings together decades of experience across military intelligence and biotech companies including the New York Genome Center, Bristol-Myers Squibb, GlaxoSmithKline, Tempus, Foundation Medicine, and Amwell. The financing was executed as a convertible note with two tranches of $50 million, called by the company with additional participation from Silver Lake and Alexandria Real Estate, as well as from existing investors The Mark Foundation for Cancer Research, Gordon Asset Management, and LionBird.
For companies interested in partnering with the C2-Intelligence Platform, please visit c2i-genomics.com.