NEC Funds NEC Invests $50 Million in Biomedical Start-Up BostonGene
NEC Corporation announced $50 million in Series A funding to Boston-based biomedical startup BostonGene. The strategic investment from NEC is for BostonGene to advance and scale its precision medicine platform for the treatment of cancer.
BostonGene pioneered the utilization of biomedical software to harness major advancements in the analysis of patients. The company has discovered and developed a patented software that helps in the holistic treatment of cancer. BostonGene focuses on treating patients through individual attention, optimal therapy, and immune & targeted therapies.
BostonGene’s proprietary solution includes –
- Creation of a patient’s molecular profile by leveraging on Genome and transcriptome sequencing methods
- Precise assessment of a patient’s immune fitness and cancer vulnerability by the use of algorithms
- A very large repository of information pertaining to cancer that is dynamically updated, expert reviewed and AI-powered
- Suggestions for best cancer treatment to patients coming from a Cloud-native & patient-prioritized comprehensive data analysis report about the specific disease
BostonGene has developed its solution after collating extensive data from leading cancer specialty centers across the United States. The company holds a vast intellectual property portfolio.
“As demonstrated by its remarkable growth and early widespread adoption, BostonGene is leading the precision medicine market in the innovation and development of a mission-critical computing platform,” said Osamu Fujikawa, Senior Vice President and Head of the Business Innovation Unit at NEC Corporation. “NEC and BostonGene share a common vision of the immense potential of an AI-driven approach to cancer immunotherapy. Leveraging the strengths of both companies we will be able to improve the survival rate and quality of life for cancer patients.”
“Transforming and personalizing medicine, from treating a diagnosis to treating the person, is becoming a reality with BostonGene’s unique breakthrough platform. Our early successes validate the market need and the potential of our solution to truly transform cancer treatment and dramatically improve patients’ chances for survival and quality of life. An investment of this magnitude will support our vision, mission, and strategy, as well as the formation of synergies with the NEC Health Tech business to create meaningful new opportunities,” said Andrew Feinberg, President, and CEO of BostonGene.
Founded in 2015, the funding will assist BostoneGene in –
- Accelerating on its long-term strategy
- Enabling the expansion of the company’s development efforts
- Advance its collaboration programs
- Support team growth