In a significant boost to cancer research and drug development, MEDiC Life Sciences, a pioneering functional genomics startup based in Silicon Valley, has announced a strategic investment of $5 million from industry giants LG and Hanmi Pharmaceutical. This funding precedes MEDiC’s anticipated Series A funding round later this year and is aimed at accelerating the adoption of its groundbreaking cancer biomarker discovery technology.
Previously, MEDiC raised $8 million in a Seed round led by notable investors including Illumina Accelerator, Top Harvest Capital, Primer Sazze, Big Basin Capital, First In Ventures, Valuence Ventures, Gradient, and Wing Venture Capital. The latest capital injection will enable MEDiC to further develop its innovative cancer biomarker discovery technology, enhance business development efforts, and support its drug discovery initiatives.
“MEDiC’s platform stands out for its ability to generate high-quality experimental data at an unprecedented scale,” said a representative from LG. “This data-driven approach is critical in tackling some of the most pressing challenges in cancer drug development.”
MEDiC collaborates with prominent pharmaceutical companies such as Bristol Myers Squibb and Hanmi, delivering its cancer biomarker and target discovery solutions to optimize their oncology pipelines. Central to MEDiC’s innovation is its MCAT™ platform, which identifies Synthetic Lethality Signature (SLS™) biomarkers. These biomarkers pinpoint genetic mutations that interact with cancer drugs to enhance patient response rates significantly.
By utilizing SLS™ biomarkers, MEDiC not only improves the efficacy of existing cancer treatments but also expands the market potential of therapies by identifying multiple prevalent biomarkers within the patient population. This unique approach has the potential to transform traditional cancer therapies into synthetic lethal therapeutics, setting a new standard in oncology.
“In a climate where cancer drug development faces soaring costs and high failure rates, our approach offers a beacon of hope,” stated Kyuho Han, Ph.D., co-founder and CEO of MEDiC. “The investment from LG and Hanmi serves as a strong endorsement of our technology, facilitating our efforts to validate SLS™ biomarkers clinically and advance early drug discovery for novel targets identified through our platform.”
Co-founded by Han and Hong-Pyo Lee, CTO, both alumni of Stanford University, MEDiC leverages a proprietary functional genomics platform that utilizes 3D tumor models for identifying optimal gene targets and biomarkers for cancer treatment. This methodology enhances the accuracy and applicability of functional genomics, positioning MEDiC as a leader in the quest for novel cancer targets and biomarkers for solid tumors.
Editorial Opinion:
MEDiC Life Sciences is charting a transformative path in the cancer treatment landscape, embodying innovation and collaboration. The strategic investment from LG and Hanmi not only highlights the credibility of MEDiC’s technological advancements but also signals a promising shift in how the pharmaceutical industry approaches cancer therapy. By focusing on synthetic lethality, MEDiC is opening new avenues for drug development that may significantly improve patient outcomes.
The emphasis on 3D tumor models represents a substantial leap forward in cancer research methodologies, aligning with the industry’s shift toward more personalized and effective treatments. As MEDiC continues to validate its SLS™ approach through partnerships with leading pharmaceutical firms, the potential to enhance drug efficacy and success rates in clinical trials grows exponentially. This is an exciting development that could redefine therapeutic strategies in oncology, making MEDiC a company to watch in the coming years.
If you need further assistance or have any corrections, please reach out to editor@thetimesmag.com.
