Syapse Raises $30 Million to Expand Access to Precision Oncology
Funding Will Allow Syapse to Bring Precision Oncology to More Healthcare Providers and Improve Patient Care
SAN FRANCISCO, Nov. 14, 2017 /PRNewswire/ -- Syapse, a leader in precision medicine solutions, has raised $30 million in Series D financing, which will enable more healthcare providers to use precision medicine to improve care for their cancer patients.
Participants include existing investors Ascension Ventures, GE Ventures, Intermountain Healthcare Innovation Fund, Safeguard Scientifics, and Social Capital, as well as new investors Amgen Ventures, Medidata Solutions, Merck Global Health Innovation Fund, and Roche Venture Fund—a group that demonstrates Syapse's success in uniting key organizations across the industry to make precision medicine a reality and improve how cancer is treated.
"Precision medicine is transforming cancer care, and to deliver it to patients across the country we need to bring together the many stakeholders across industries," said Ken Tarkoff, CEO of Syapse. "This funding round does exactly that—helping Syapse and healthcare providers implement large-scale precision oncology programs by uniting a world-class group of healthcare, oncology, technology, and life science leaders. The round is also recognition that Syapse is making precision medicine a reality for more oncologists and their patients."
With precision medicine, physicians can deliver personalized cancer care based on a patient's clinical and genomic profile, an approach that has been shown to improve care, lower costs, and increase efficiency.1
The Syapse Oncology software platform enables oncologists to practice precision medicine consistently across large health systems. The Syapse Data Sharing Network puts the power of real-world evidence in the hands of oncologists, enabling physicians to view treatments and outcomes for patients across the country and use this information to improve treatment decisions for their own patients.
"It's remarkable how quickly precision medicine has matured from an academic exercise to mainstream oncology practice," said John Kuelper, Investment Director at Ascension Ventures. "Targeted therapeutics and precision diagnostics have been shown to save lives and lower the cost of care, but without tools like Syapse, they've been inaccessible to the community oncologists that represent 70 percent of patient care. Syapse empowers physicians to collaborate with each other and the broader medical ecosystem, ensuring that these breakthrough technologies are available to the patients who need them."
In addition to enabling precision medicine at more community health systems, Syapse's expansion will allow its customers to increase patient access to clinical trials.
"Syapse has developed an advanced precision medicine platform that gives providers the tools needed to drive better outcomes in cancer care," said Glen De Vries, Medidata president and co-founder. "Medidata is excited to invest in the company's future—we share a common goal of providing improved patient access to oncology trials."
The new funding comes during a period of rapid growth, and will enable Syapse to expand operations and bring its solutions to more providers and their cancer patients.
About Syapse
Syapse is on a mission to deliver the best care for every cancer patient through precision medicine. Our software platform, data sharing network, and industry partnerships enable healthcare providers to bring precision cancer care to every patient who needs it. By bringing together leading healthcare innovators into a unified ecosystem, we are working toward a future in which all cancer patients have access to the best personalized care, regardless of location or income. Our customers—including Intermountain Healthcare, Providence St. Joseph Health, Henry Ford Health System, Aurora Health Care, Catholic Health Initiatives and Dignity Health—manage one million active cancer cases at nearly 300 hospitals in 25 states. Headquartered in San Francisco, Syapse is backed by investors including Social Capital, Safeguard Scientifics, Ascension Ventures, GE Ventures, Intermountain Healthcare Innovation Fund, Merck Global Health Innovation Fund, Medidata Solutions, Roche Venture Fund, and Amgen Ventures.
1Haslem, Derrick S., et al. "A Retrospective Analysis of Precision Medicine Outcomes in Patients With Advanced Cancer Reveals Improved Progression-Free Survival Without Increased Health Care Costs." Journal of Oncology Practice (2016): JOPR011486.
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SOURCE Syapse
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