Prenosis Announces Investment from PACE Healthcare Capital, bringing Total Funding to Over $20 million

CHICAGO, March 9, 2022 /PRNewswire/ -- Prenosis, Inc., a precision medicine company, today announced a venture investment from PACE Healthcare Capital, an early-stage investment firm committed to improving health outcomes. This investment brings total funding in the company to over $20 million, including partnerships with Foxconn, Roche Diagnostics, the Defense Threat Reduction Agency, and others.  

Prenosis is leveraging machine learning algorithms trained on deep biological data and broad clinical data to create precise and comprehensive maps of acute disease. Using these maps, Prenosis develops and markets valuable navigational tools to improve patient care by illuminating the optimal treatment pathways for each patient. 

"This capital will further accelerate our deep biological mapping of acute disease and to further grow the NOSIS™ dataset/biobank, which is the largest such dataset/biobank ever created for sepsis," said Bobby Reddy, Jr., CEO and Co-Founder, Prenosis Inc. "Using our mapping technology, we are developing sophisticated methods to define, divide, and conquer diseases. The navigational guidance solutions based on our health state maps will address the critical challenge of sepsis by providing critical and actionable information tailored to each patient's health state." 

Prenosis is pioneering a revolution in managing acute diseases that have previously eluded conventional methods, starting with sepsis. Sepsis occurs when the immune system reacts abnormally to an infection, setting off a chain of events that leads to tissue damage and organ failure. Sepsis is currently one of the leading causes of mortality in U.S. hospitals, and the WHO estimates that it causes 1 in 5 deaths worldwide¹.  

Prenosis has spent nearly a decade building fit-for-purpose biological and clinical datasets at an unprecedented level to better understand sepsis and other acute care conditions.

Using this information, Prenosis has developed patient maps and valuable navigational tools to empower physicians to administer optimal treatment to patients faster. Prenosis' first such tool, the Sepsis ImmunoScore^TM, is a Software-as-a-Medical Device (SaMD) digital diagnostic designed to aid in the risk assessment for progression to sepsis of patients admitted in the emergency department or hospital. Prenosis is currently seeking to obtain FDA clearance for the tool by the end of 2022. The test runs on Prenosis's Immunix™ software platform, which interfaces with hospital Electronic Medical Records that hosts multiple products to improve patient care. 

"Personalized medicine is the next frontier of healthcare. Complex acute diseases, such as sepsis, can only be conquered through a robust understanding of the biological response of each patient's immune system – one patient at a time. Prenosis brings our understanding of the disease patterns to a whole new level and enables physicians to make better decisions faster for their patients," said Julia Monfrini Peev, Founder and Managing Partner of PACE Healthcare Capital. "We are excited to partner with Bobby and the whole Prenosis team as they continue to develop their technology and transform the way we understand and provide care for patients with complex acute diseases."  

The funding builds on a recent string of strategic partnerships and accolades for Prenosis, including being selected as part of the MedTech Innovator 2021 Showcase, being named the #2 Medtech Startup of 2021 by MDDI, and being asked to present its research at scientific meetings, including the forthcoming 2022 annual meetings for the Society of Critical Care Medicine and the American Thoracic Society. 

"In addition to support from other investors and partners, PACE Healthcare Capital's involvement is a strong endorsement of our solutions and will help to accelerate our growth as we further expand our proprietary dataset and work towards commercialization of the Immunix™ platform later this year," said Reddy. "As we use our technology to map acute disease, we hope to usher in a new age of data-driven treatment and medical discovery." 

About Prenosis 

Prenosis is a health tech innovator devoted to ushering in a new era of precision diagnostics in acute care using artificial intelligence. Its Immunix™ precision diagnostics platform leverages machine learning algorithms trained on deep biological data and broad clinical data designed to capture and illuminate the complex health states of patients more holistically. Its proprietary NOSIS^TM dataset is one of the largest and fastest-growing hybrid biomarker-clinical datasets for sepsis care. The Sepsis ImmunoScore™ diagnostic on the Immunix™ platform has the potential to save thousands of lives and billions of dollars in healthcare spending annually. The Sepsis ImmunoScore™ is not yet approved for commercial use in the United States. 

About PACE Healthcare Capital 

PACE Healthcare Capital is an early-stage venture capital firm focused on investing in companies that have developed high-impact solutions to critical healthcare challenges. With decades of combined experience and $1B+ of capital raised and deployed in healthcare, PACE applies institutional-grade investment processes to identify the best entrepreneurs and deploy financial and human capital to help them grow their business.

The PACE deal team supporting Prenosis includes:

• Maria Siambekos, a health tech operator with 25+ years' experience and currently CEO of ArborMetrix;
• Kevin Klauer, DO, EJD, formerly served as CMO of Hospital-Based Services and Chief Risk Officer for TEAMHealth, and currently is CEO of the American Osteopathic Association;
• Julia Monfrini Peev, Founder and Managing Partner of PACE Healthcare Capital.

¹ https://www.cidrap.umn.edu/news-perspective/2020/09/who-says-sepsis-causes-20-global-deaths

SOURCE Prenosis