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Financing › Details

Nucleai MD–SEVERAL: investment, 202203 financing round Series B $33m co-led by Section 32 + Sanofi Ventures

 

Period Period 2022-03-22
Organisations Money taker Nucleai MD (IL)
  Money source SEVERAL
Products Product artificial intelligence (AI) / machine learning (ML)
  Product 2 venture capital
Person Person De Luca, Cris (Sanofi 202203 Global Head Digital Investments at Sanofi Ventures)
     

Nucleai MD. (3/22/22). "Press Release: Nucleai Closes $33 Million Series B Financing to Advance Spatial Biology Platform for Drug Research, Development and Diagnostics". Tel Aviv.

Led by Section 32 and Sanofi Ventures, funding will enable Nucleai to expand its commercial footprint in biopharma and further develop its state-of-the-art spatial biology platform


Nucleai, an AI-powered spatial biology company with a mission to transform drug development and clinical treatment decisions by unlocking the power of pathology data, today announced that it had closed a $33 million Series B financing round, jointly led by Section 32 and Sanofi Ventures. Andy Harrison, Managing Partner at Section 32, and Cris De Luca, Global Head, Digital Investments at Sanofi Ventures, will join Nucleai’s Board of Directors. Section 32 Managing Partner Michael Pellini, MD, will join Nucleai’s Board as an observer. Nucleai plans to use the new funding to further develop its platform and expand its commercial footprint across biopharmaceutical companies and contract research organizations (CROs), who are applying its technology throughout translational research, clinical trials, and novel applications for drug discovery.

Existing investors, including Debiopharm, Fosun RZ Capital, Vertex Ventures, and Grove Ventures, participated in this round. This Series B financing brings Nucleai’s overall funding to close to $50 million since the company was founded four years ago.

“Nucleai’s vision is to bring spatial biology to the forefront of precision medicine and to embed the use of our platform in every clinical trial involving tissue over the next few years,” said Avi Veidman, CEO of Nucleai. “We are pleased to bring world-class investors who share our passion and vision to transform drug development and clinical treatment decisions by combining artificial intelligence, big data, spatial biology, and a comprehensive software platform.”

Andy Harrison commented, “Mapping biological microenvironments with spatial mapping technology is an exciting area of discovery that is paving the way for innovative new therapies and diagnostic tools. Nucleai has built a platform that makes spatial analysis scalable and operational, enabling the next generation of actionable insights from massive pathology data sets that have not been analyzed to their fullest potential and could provide significant value to pharmaceutical companies and diagnostic labs.”

“The rapid growth and achievements of the Nucleai team have them well-positioned to be spatial biology platform leaders, transforming current approaches to pathology,” said Cris De Luca. "By harnessing artificial intelligence with spatial data and other data modalities, Nucleai is enabling researchers and clinicians to make better treatment decisions for patients based on a comprehensive, holistic view of cellular locations, interactions, and the tumor microenvironment.”


Nucleai is working with most of the leading pharmaceutical companies to harness spatial biology for new drug development, clinical trials, and clinical treatment decisions. Nucleai’s platform is leveraged for retrospective and prospective patient stratification analysis in clinical trials, driving improvement of the probability of success and improved patient outcomes. Nucleai delivers a comprehensive solution that brings the computational power and scales needed to discover novel biomarkers, predicts patient response with higher-quality predictive biomarkers, identifies new targets, and develops the next generation of pathology-based companion diagnostics.

For more information, go to www.nucleai.ai.


About Section 32

Section 32 is a venture capital fund investing at the frontiers of technology and healthcare. Founded by Bill Maris, the team has vast experience building iconic companies. Our goal is to improve the human condition by accelerating the discovery, development, and distribution of important technologies and life saving medicines. We invest across the entirety of technology and healthcare. To learn more, go to: www.section32.com


About Sanofi Ventures

Sanofi Ventures is the corporate venture capital arm of Sanofi. Sanofi Ventures invests in early-stage biotech and digital health companies with innovative ideas and transformative new products and technologies of strategic interest to Sanofi. Among these areas are oncology, immunology, rare diseases, vaccines, potential cures in other core areas of Sanofi’s business footprint, and digital health solutions. www.sanofiventures.com


About Nucleai

Nucleai is an AI-powered spatial biology company with a mission to transform drug development and clinical treatment decisions by unlocking the power of pathology data. Nucleai provides pharmaceutical companies, contract research organizations, and diagnostics laboratories with a state-of-the-art AI platform to improve clinical trials and clinical decision-making. For more information, please visit www.nucleai.ai.


Contacts

Jonathan Daniels -- VP of Sales
Nucleai
PR@nucleai.ai

   
Record changed: 2022-04-12

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