ImpriMed, a Silicon Valley-based AI precision medicine company, raises KRW 30 billion in Series A funding

ImpriMed, a Silicon Valley-based AI precision medicine company, has raised KRW 30 billion in Series A funding.

The round was led by SoftBank Ventures, with participation from Han River Partners, SK Telecom, KDB Silicon Valley, Ignite Innovation Fund, Samyang Chemical Group, Murex Partners, and Byuksan. The company’s total cumulative investment now stands at KRW 45 billion.

ImpriMed was founded in Silicon Valley by co-founders Lim Sungwon, CEO, and Koo Jamin, CTO, who both studied undergraduate and doctoral programs at KAIST and Stanford University. The company provides patient-tailored cancer drug efficacy prediction services using AI technology.

In particular, ImpriMed’s “Personalized Prediction Profile” service uses an AI model to analyze the various biological characteristics of cancer cells in dogs with blood cancer to predict which cancer drug is most effective and the response and prognosis of each treatment. The service is currently being used by over 4,700 dogs by over 250 oncology veterinarians at animal hospitals across the United States.

With this investment, ImpriMed plans to continue developing and commercializing precision medicine services for not only companion animals but also cancer patients. The company has already secured precision medicine support technology for people with leukemia and lymphoma, and its multiple myeloma prognosis/prediction test software has been selected as an innovative medical device by the Ministry of Food and Drug Safety, and is undergoing the approval process for commercialization in 2024.

ImpriMed also plans to expand its CRO (Contract Research Organization) services based on its proprietary technology that can analyze the drug sensitivity of new drug candidates through living cancer cells.

SoftBank Ventures Managing Director Choi Ji-hyun, who led the investment, said, “The importance of precision medicine for conquering cancer is growing, and ImpriMed is achieving significant results in dog cancer treatment based on its abundant clinical data. We highly valued the potential for commercialization of customized medical services that cover a variety of cancer diseases.”

ImpriMed CEO Im Seong-won said, “It is of great significance that ImpriMed’s technology capabilities and growth potential have been recognized through this investment in a situation where investment is difficult worldwide. We will quickly apply the know-how gained from services for dogs to research and development of services for human cancer patients and become a platform company that leads the precision medicine market.”

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