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First Ascent Biomedical Nabs $6M Investment to Advance Functional Precision Medicine Platform

NEW YORK – First Ascent Biomedical on Monday announced that it has received a $6 million investment from Vidal Duart Enterprises, as well as an additional co-investment from Techstars, which it will put toward developing its functional precision medicine platform. 

The platform combines drug testing, DNA and RNA sequencing, and artificial intelligence-guided tumor weakness mapping. The Miami-based firm intends to use the platform to test hundreds of FDA-approved drugs against patients' unique cancers and present a personalized treatment plan to their physicians within an average 10 days. 

According to First Ascent, research to date has shown that patients treated based on insights from the platform derived an 83 percent greater benefit compared to those who received their physician's choice of treatment without the aid of the platform. 

First Ascent said that the investment will also fund a commercial lab in Florida and support the firm's operations.