Investment to Accelerate Molecular Diagnostic Product Selection, Development and Accessibility
WALTHAM (February 19, 2020) — Scipher Medicine, a developer of a molecular technology platform used to ensure patients are prescribed the most effective therapy, announced an investment from Optum Ventures, the independent venture fund of Optum. Under the terms of the agreement, Optum Ventures has made an equity investment in Scipher Medicine to accelerate the company’s efforts to improve patient outcomes by using molecular diagnostics to identify the best therapy prior to treatment initiation.
Scipher Medicine is bringing personalized care to diseases that are currently managed by a one-size-fits-all approach by developing a battery of drug response tests aimed at enabling physicians to select optimal therapy based on an individual patient’s biological signature.
“Outcomes can be improved dramatically when patients are prescribed the right therapy from day one” said Alif Saleh, CEO of Scipher Medicine. “By identifying a patient’s disease on a molecular level, in real time, we can match this signature to the most effective drug and provide physicians with vital information in support of selecting the best treatment.”
Optum Ventures’ investment will be used to accelerate Scipher’s focus on autoimmune conditions with the intent to broaden the collaboration into a variety of difficult to treat complex diseases across patient population.
The investment by Optum Ventures represents a second close in Scipher Medicine’s previously announced Series B round.
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 predicts 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 and UnitedHealth Group. To learn more, visit ScipherMedicine.com.
About Optum Ventures
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of UnitedHealth Group. Optum Ventures invests in health companies that use data and insights to help improve consumers’ access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.