xCures raises USD12.69m in Series A funding for AI-powered precision oncology platform
xCures Inc, a specialist in the patient-centric use of artificial intelligence (AI) and predictive modelling, has raised USD12.69 million in a Series A funding round led by Boehringer Ingelheim Venture Fund and joined by Vanedge Capital, Harmonix Fund, Metaplanet, as well as other investors.
The funding will be used to accelerate adoption and further development of xCures' AI-Powered platform for precision oncology decision making.
The xCures platform transforms complex unstructured medical data directly from the patient's medical records into structured data suitable for analysis and machine learning. The AI engine then actively cross-references this data against a vast digital library of oncology data to match patients with potential treatments and predict outcomes, thereby empowering patients as well as their oncologists to make more informed and effective treatment decisions.
"This new investment enables us to leverage our experience in helping over 1000 patients on our platform to dramatically increase both platform usage and the insights we are generating," says Mika Newton, CEO of xCures. "Working with the Boehringer Ingelheim Venture Fund and our other investors, we are leading the field of patient-centric research, AI-powered clinical decision support, and prospectively generating regulatory-grade real-world evidence."
xCures has developed the infrastructure and products to directly engage patients and access their raw unstructured medical records from anywhere in the United States. These records are then processed into structured data and stored in a HIPAA and CFR Part 11 compliant system. Patients and their physicians receive a crisp summary of their case in the form of a Cancer Journey. The platform then integrates knowledge and insights from this real-world evidence into xINFORM, providing powerful AI-driven clinical decision support tools. Also, the acquired real-world evidence is helpful for biopharmaceutical companies and payors to accelerate novel therapies and guide the optimisation of precision medicine approaches to cancer treatment.
"The Boehringer Ingelheim Venture Fund sees the potential of the xCures platform to provide valuable options for advanced cancer patients, while at the same time, generating real-world evidence that could lead to important therapeutic insights," says Mark Ralph, Executive Director of the Boehringer Ingelheim Venture Fund focused on Digital Health Investments, and who is joining the xCures Board of Directors. "We're confident that xCures will continue to develop their platform and work to make a meaningful impact for patients."