Onc.AI, a San Carlos, CA, and Canada-based technology company developing a novel digital clinical management solution focused on immuno-oncology, announced that it closed a $25 million Series A financing.
The round was co-led by MassMutual and Action Potential Venture Capital (a GSK venture fund), with participation from Life Extension Ventures and all existing investors, including Blue Venture Fund, Accomplice, Digitalis Ventures, and KdT Ventures.
This funding will support Onc.AI commercialization of a novel digital clinical management solution focused on immuno-oncology therapies.
“In just two years, Onc.AI has assembled a market-leading real-world data asset focused on immuno-oncology, which has enabled the development of a powerful suite of AI models to assist medical oncologists in clinical decision-making,” said Akshay Nanduri, Co-founder and CEO of Onc.AI. “On behalf of the company and existing investors, I would like to welcome MassMutual Alternative Investments and Action Potential Venture Capital as we work together to improve oncology clinical management in a significant way. This major financing will be allocated to achieving the necessary development and regulatory milestones preceding the commercialization of our first product in lung cancer. Proceeds will also be used to support our currently active and future research collaborations with global pharmaceutical leaders.”
In conjunction with the financing, David Diaz-Casariego (Portfolio Manager of Alternative Investments at MassMutual) and Juan-Pablo Mas (Action Potential Venture Capital) will join the Onc.AI Board of Directors alongside Dr. Emir Sandhu (Blue Venture Fund), Dr. Julie Hambleton (Independent Director), Jonathan Fleming (Board Chair) and Akshay Nanduri.
Company: Onc.Ai, Inc.
Raised: $25.0M
Round: Series A
Funding Month: January 2023
Lead Investors: MassMutual and Action Potential Venture Capital
Additional Investors: Life Extension Ventures, Blue Venture Fund, Accomplice, Digitalis Ventures, and KdT Ventures
Company Website: https://onc.ai/
Software Category: Clinical Management Solution
About the Company: Founded in 2020 by Akshay Nanduri and Salmaan Ahmed, Onc.AI is a privately held medical technology company developing a digital clinical management platform focused on immuno-oncology. Through the use of a rapidly growing real-world dataset that powers multimodal AI predictions, Onc.AI building a pipeline of physician-centered products to fulfill the potential of precision oncology. The company is on a mission to radically improve oncology decision-making. They are a team of entrepreneurs, operators, and scientists with deep expertise in oncology, predictive analytics, computer vision, medical imaging, enterprise software, and AI/ML. Onc.AI is headquartered in San Carlos, California, and Waterloo, Ontario, Canada.
Source: https://www.businesswire.com/news/home/20230104005705/en/Onc.AI-Raises-25-Million-Series-A-Financing-Co-Led-by-MassMutual-and-Action-Potential-Venture-Capital