CancerIQ, the platform powering early cancer detection and prevention across broad patient populations, announced on March 3, 2022, that it closed a $14 million Series B financing round co-led by Merck Global Health Innovation Fund (Merck GHI) and Amgen Ventures. McKesson Ventures, OSF Ventures (the investment arm of OSF HealthCare, a current CancerIQ customer), as well as CancerIQ’s Series A lead investor, HealthX Ventures, also participated in the Series B round.
The new funding came one month after a report from the President’s Cancer Panel calling for “urgent and immediate action” to close gaps in cancer screening, risk assessment, and timely follow-up care — particularly among diverse, uninsured or underinsured, and rural populations.
Systemic access barriers have created stark inequality when it comes to preventive cancer care in the United States. For example, Black women are more likely to be diagnosed with advanced stages of breast cancer and 41% more likely to die of the disease than white women. These issues are compounded by the 9.5 million screenings missed during the COVID-19 pandemic, which has led to an increase in late-stage cancer diagnoses that are more costly and have a greater impact on quality of life and outcomes than early-stage diagnoses.
CancerIQ’s precision health platform, which is being used by clinicians at more than 180 locations across the country, makes it easy to determine a patient’s individual risk of cancer based on family history, genetics, behavior, and other factors, and then connect them to the corresponding care pathways. Those pathways range from MRIs, prophylactic surgeries and vaccinations to at-home screening kits, multi-cancer early detection (MCED) tests, lifestyle interventions and other services such as clinical trials, educational materials, and social resources. CancerIQ is embedded directly into EMR workflows so clinicians in any care setting have the latest genomics research, clinical guidelines, and life sciences innovations at their fingertips.
The new funding is helping CancerIQ grow its precision health platform, strengthen its partnership ecosystem, and expand its health system network. Following a recent series of key executive hires, the company also in the process of hiring 50 team members to meet the rising demand for more efficient and innovative cancer prevention services.
CancerIQ is the only cancer-focused precision health platform that empowers healthcare providers to detect cancer earlier and prevent it altogether across all patient populations. Integrated directly into real-time EHR workflows, CancerIQ makes it easy to gather comprehensive patient data, automatically map it to the latest evidence-based guidelines, and expand access to personalized care plans, cutting-edge clinical solutions, and genomic innovations. Learn more at canceriq.com, follow CancerIQ on Twitter, LinkedIn or Facebook, and check out our latest eBook.
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