Iterative Scopes, a Cambridge, Mass.-based pioneer in the development of precision-based gastrointestinal (GI) disease technologies and software, announced that it raised $150 million in Series B financing.
The round was co-led by Insight Partners and Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”), as well as by returning investors Obvious Ventures, Johnson and Johnson Innovation-JJDC Inc., Eli Lilly, Breyer Capital, and other industry and financial leaders.
The Funding will accelerate the application of cutting-edge computational technology tools that are designed to transform gastroenterology care for patients
Company: Iterative Scopes, Inc
Raised: $150.0M
Round: Series B
Funding Month: January 2022
Lead Investors: Insight Partners and Clearlake Capital Group, L.P.
Additional Investors: Obvious Ventures, Johnson and Johnson Innovation-JJDC Inc., Eli Lilly, and Breyer Capital
Company Website: https://www.iterativescopes.com/
Software Category: AI-Driven Precision Medicine for Gastroenterology
About the Company: Iterative Scopes is a pioneer in the application of artificial intelligence-based precision medicine for gastroenterology to help to optimize clinical trials investigating the treatment of inflammatory bowel disease (IBD). Its powerful, proprietary artificial intelligence and computer vision technologies have the potential to improve the accuracy and consistency of endoscopy readings. Iterative Scopes is initially applying these advances to impact polyp detection for colorectal cancer screenings and working to standardize disease severity characterization for inflammatory bowel disease. Longer-term, the company plans to establish more meaningful endpoints for GI diseases, which may be better predictors of therapeutic response and disease outcomes. Spun out of MIT in 2017, the company is based in Cambridge, Massachusetts.
Source: https://www.businesswire.com/news/home/20220119005231/en/Iterative-Scopes-Announces-150-Million-Series-B-to-Advance-AI-Driven-Precision-Medicine-for-Gastroenterology