MEDiC Life Sciences, a leading functional genomics startup in Silicon Valley, announced a $5 million strategic investment from LG and Hanmi Pharmaceutical. This funding comes ahead of MEDiC’s planned Series-A round later this year. Previously, MEDiC raised $8 million in a Seed round led by a group of investors, including Illumina Accelerator, Top Harvest Capital, Primer Sazze, Big Basin Capital, First In Ventures, Valuence Ventures, Gradient, and Wing Venture Capital.
This new funding round will accelerate the adoption of MEDiC’s breakthrough cancer biomarker discovery technology, bolster business development, and advance drug discovery efforts. And MEDiC collaborates with leading pharmaceutical companies, including Bristol Myers Squibb (BMS), Hanmi, and other undisclosed U.S. firms, delivering its cancer biomarker/target discovery solution to enhance their cancer drug pipelines.
At the center of MEDiC’s innovation is its MCAT platform, a next-generation functional genomics platform that measures millions of gene-to-drug interactions and identifies Synthetic Lethality Signature (SLS) biomarkers. When combined with a cancer drug, these biomarkers represent multiple genetic mutations that are synthetic lethal, significantly improving patient response rates. By utilizing SLS biomarkers, MEDiC not only enhances drug efficacy but also expands the market potential of cancer therapies by identifying multiple biomarkers with significant prevalence in the patient population.
This pioneering approach transforms existing cancer drugs into synthetic lethal therapeutics with unique advantages over traditional treatments. And MEDiC aims to use this funding to partner with pharmaceutical companies facing challenges in maximizing both the efficacy and marketability of their cancer drug assets. The company also seeks clinical validation of its SLS approach through collaborations.
Founded by Kyuho Han, CEO, and Hong-Pyo Lee, CTO, both Stanford University alumni, MEDiC specializes in a proprietary functional genomics platform that uses 3D tumor models to identify optimal gene targets and biomarkers for cancer treatment. And unlike traditional 2D cultures, MEDiC’s use of 3D models improves the accuracy and translatability of functional genomics, positioning the company as a leader in discovering novel cancer targets and biomarkers for solid tumors. Its unique approach has attracted high-profile partners seeking new biomarkers and targets for cancer drug development.
KEY QUOTES:
“As cancer drug development faces high failure rates and rising costs, MEDiC’s approach holds the potential to reverse this trend. We recognize the value of MEDiC’s data-driven approach to solving critical issues in cancer drug development. MEDiC’s platform uniquely generates high-quality experimental data at massive scale, bridging the gap between AI and biotechnology.”
-A representative from LG, which led the strategic investment
“MEDiC’s innovative cancer biomarker discovery technology is opening new possibilities for the development of novel cancer therapeutics. With MEDiC and its MCAT™ platform, Hanmi anticipates strengthening the anti-cancer portfolio, as well as enhancing the clinical efficacy leading to improve the success rate in clinical trials. We hope that through clinical validation of the SLS biomarkers, we can create opportunities to provide patients with more effective treatment options, and we look forward to shaping the future of cancer therapeutics together with MEDiC.”
-Hanmi’s representative
“This investment from LG and Hanmi in a challenging global climate is a strong endorsement of our technology. It will help accelerate the adoption of our solutions among pharmaceutical partners and bring us closer to clinical validation of SLS™ biomarkers. It will also support our efforts in early drug discovery for novel targets identified through our platform, creating additional value for MEDiC.”
-Kyuho Han, Ph.D., co-founder and CEO of MEDiC
