NEW YORK – Oakland, California-based startup xCures said on Wednesday it has raised $12.7 million in a Series A funding round, which it will use to accelerate development and adoption of its artificial intelligence-powered clinical decision-making platform.
The round was led by Boehringer Ingelheim Venture Fund with participation from Vanedge Capital, Harmonix Fund, Metaplanet, and other unnamed investors. With the funding, Mark Ralph, executive director of the Boehringer Ingelheim Venture Fund, will join the xCures board of directors.
"The Boehringer Ingelheim Venture Fund sees the potential of the xCures platform to provide valuable options for advanced cancer patients, while at the same time generating real-world evidence that could lead to important therapeutic insights," Ralph said in a statement.
The xCures platform gathers and structures patients' medical records, including genomic testing results from local pathology and commercial testing labs, the company said. The platform is test agnostic and can incorporate genomic testing results from any assay.
This month, the company launched xINFORM, a version of its platform through which patients can access their own information. XCures also offers a physician version of the platform, called xACCESS, which guides treatment decisions, matches patients to clinical trials, and supports tumor board case reviews.
The real-world data collected through its platform can also help pharma companies accelerate development of novel targeted therapies, according to xCures.