- Tumor board and cancer treatment planning software solutions company OncoLens announced it has raised $2.5 million in Series A funding
OncoLens — a pioneer in tumor board and cancer treatment planning software solutions — announced that it has raised $2.5 million in a Series A round of funding led by BIP Capital. Atlanta Technology Angels and the Robbins Fund also joined the round. These three firms were prior investors in the company’s seed round.
The American Cancer Society said that nearly 1.76 million new cancer cases were diagnosed in the United States in 2019 and there were 606,880 cancer deaths reported.
OncoLens is known for delivering software solutions that help cancer centers more efficiently conduct multi-specialty cancer case reviews and achieve Commission on Cancer (CoC), National Accreditation Program for Breast Centers (NAPBC), or National Accreditation Program for Rectal Cancer (NAPRC) accreditations.
“With the growing number of complex cancer cases and pressure for hospitals to improve patient outcomes, OncoLens allows cancer centers to reduce the time and resources it takes for multi-disciplinary case collaboration, early identification of precision medicine-based solutions, and relevant clinical trials for patients,” said Mark Buffington, CEO of BIP Capital. “We’ve seen tremendous uptick in the OncoLens business over the past year, including rapid market adoption and significant product line growth. We’re proud to partner with OncoLens and view it as one of the top emerging healthcare companies in the Southeast.”
OncoLens is known for developing technologies that improve cancer treatment planning, simplify tumor board management, facilitate survivorship care planning, and automate accreditation and quality reporting through an intelligent workflow engine that streamlines business processes and enables more informed clinical decision-making.
And OncoLens serves several large integrated delivery networks (IDNs) and hospitals across the country — which are seeing significant efficiency gains in their care treatment planning process. Plus OncoLens utilizes proprietary algorithms to decrease the workload around multidisciplinary case discussions by bringing together clinical, radiological, and pathological data required for collaboration in one easy-to-use platform and it automatically matches the patient with relevant clinical trials and potential targeted therapies while also providing quality improvement considerations for the care team. Centers benefit even more through data analytics, care coordination, and the platform’s reporting capabilities.
“At OncoLens, our passion is to empower those who diagnose and treat cancer patients with technology and data which can ultimately improve the outcomes of the growing population of cancer patients,” added Anju Mathew, OncoLens co-founder and CEO. “This investment round will not only help us continue to expand the capabilities of our solutions but will also assist us in growing our sales and marketing resources so more cancer centers know about and can benefit from OncoLens.”