NEW YORK — Imagenomix, a cancer diagnostics spinout of NYU Langone Health, said last week that it has raised $3.2 million in seed funding.
The investment was led by Modi Ventures and included NYU Langone Venture Fund, NYU Innovation Venture Fund, Verge HealthTech Fund, and Metavallon.
Imagenomix has been developing a patent-protected technology platform that uses AI to identify genetic alterations of cancer directly from standard histopathology images, without the need for DNA sequencing, and to map the spatial distribution of these mutations.
“We built Imagenomix on the conviction that the information needed to guide treatment decisions is already present in the tissue — we simply need the AI to read it,” CEO Travis Wold said in a statement.
The New York City-based company said it intends to use the seed money to initiate a clinical trial of its platform in breast cancer, and to further develop and launch its V2 lung cancer classifier commercially later this year in collaboration with digital pathology firm Proscia.
Further, Imagenomix will use the funds to support its alliance with Alterome Therapeutics, which is using the firm’s technology in Phase I clinical trials of its precision oncology therapeutic candidates.
The company said it wants to focus on lung, brain, and breast cancer initially, “with the goal of making molecular-grade diagnostic insights available to any clinician anywhere regardless of whether a sequencing laboratory is within reach.”
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