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Scipher Medicine Closes Series B Funding Led By Northpond Ventures

December 19, 2019 GMT

WALTHAM, Mass.--(BUSINESS WIRE)--Dec 19, 2019--

Scipher Medicine, developer of a molecular technology platform used to ensure patients are prescribed the most effective therapy from day one to improve patient outcomes, announced the completion of Series B financing led by Northpond Ventures, a global venture capital firm focused on life sciences and technology. Additional investors participating in the round include Alumni Ventures Group and Tachyon Ventures, along with existing investors, Khosla Ventures and Granpool Innovative Investments.

Scipher Medicine has raised $30 million to date to fund development and commercialization of the company’s first drug response product, PrismRA TM, a molecular diagnostic test predicting response to the world’s largest selling drug class, anti-tumor necrosis (anti-TNF) therapies, in rheumatoid arthritis patients. With over 65% of patients failing to respond adequately to these drugs, PrismRA TM identifies, in advance of treatment initiation, if a patient will respond or not so the most optimal drug can be prescribed from day one to improve patient outcomes.

“Scipher’s molecular technology platform has the potential to bring precision medicine to autoimmune diseases, which has long suffered from a fail first treatment approach,” said Michael Rubin, M.D., Ph.D., Founder and CEO of Northpond Ventures. “We’ve seen how precision medicine has dramatically improved outcomes in oncology, and Northpond is excited to join Scipher Medicine in improving patient outcomes by bringing a targeted individual treatment approach to complex diseases starting with autoimmune disease.”

Scipher Medicine has developed PrismRA TM to arm physicians with data to support treatment decisions based on each patient’s specific needs as determined by the individual’s molecular biologic profile.

“It’s a race against the clock for patients diagnosed with autoimmune diseases to make sure they are prescribed a drug that works. Unfortunately, today most patients cycle for years through different drugs until finding one that works while suffering from irreversible disease progression,” said Alif Saleh, CEO of Scipher Medicine. “Our technology allows physicians to prescribe patients the best treatment faster, limiting exposure to unnecessary side effects while improving outcomes.”

Scipher Medicine previously announced positive results for PrismRA TM earlier this year. With Series B funding, the company has successfully launched its prospective trial to confirm the clinical utility of the test.

About Scipher Medicine

Scipher Medicine holds the fundamental belief that patients deserve simple answers to their treatment options using scientifically backed data. With artificial intelligence and its proprietary molecular technology platform, Scipher Medicine develops innovative diagnostic tests that predict which drug will work from day one and use the data from these tests to develop more effective therapies to improve patient outcomes.

Scipher Medicine is privately held, headquartered in Waltham, Massachusetts and backed by Khosla Ventures, Northpond Ventures, Alumni Ventures Group, Tachyon Ventures and Granpool Innovative Investments. To learn more, visit sciphermedicine.com.

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CONTACT: Outcomes Communication Group

Laureen Cassidy

laureen@outcomescg.com

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: RESEARCH MEDICAL DEVICES BIOTECHNOLOGY OTHER HEALTH HEALTH PHARMACEUTICAL GENERAL HEALTH OTHER SCIENCE SCIENCE

SOURCE: Scipher Medicine

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PUB: 12/19/2019 09:00 AM/DISC: 12/19/2019 09:01 AM

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