|Molecular Health CEO Lutz Voelker|
Healthcare IT outfit Molecular Health raked in €25 million ($26.6 million) in financing to spur commercialization for its healthcare informatics platform, giving the company a boost as it charges ahead with product development and expands its global footprint.
The recent round, which was led by current investor dievini, brings Molecular Health's total amount raised to €100 million. The Heidelberg, Germany, and Boston-based company plans to use the funds to support its biomedical information platform and technology, which helps doctors, diagnostic labs and pharma companies sift through complex data for different healthcare applications such as patient treatment and drug development.
"Our platform integrates these data into the most comprehensive biomedical data warehouse in the world and quickly interprets information to generate accurate and actionable insights that drive important healthcare decisions, leading to both personalized treatment and more efficient therapy development," CEO Lutz Voelker said in a statement. "We greatly appreciate the continued support of dievini and look forward to expanding the company's commercial infrastructure and driving adoption of our solutions."
Molecular Health has set its sights on international expansion to fuel development, and at least so far, the company's hard work seems to be paying off. In April, Molecular Health inked a deal with GATC Biotech to commercialize its TreatmentMAP device. The system draws on the company's biomedical data warehouse to help physicians pick the best treatment for patients based on an individual tumor profile. The device is already on the market in Europe and Latin America, and is run as a lab test with next-generation sequencing (NGS) in the U.S.
In June, Molecular Health further expanded its international presence by selecting TestAnalytika to distribute its TreatmentMAP cancer treatment decision support device in Latin America, setting up the system in hospitals and labs and priming the company for future growth in the region.
Molecular Health's technology has also caught the eye of the FDA, which recently licensed the company's SafetyMAP software to predict safety risks associated with new drugs. The agency was already using the system for the past three years to evaluate potential safety issues, and the company's data mining software offered "valuable, accurate and reliable information," the FDA said earlier this year.
- read the release