Israeli bio-tech company Nucleai has closed a $33 million Series B financing round, jointly led by Section 32 and Sanofi Ventures. This Series B financing brings Nucleai’s overall funding to close to $50m. since the company was founded four years ago.
The AI-powered company intends to utilize these funds to develop its platform and expand its commercial footprint across biopharmaceutical companies and research organizations who are applying its technology throughout translational research, clinical trials, and novel applications for drug discovery.
“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.”
In addition to closing the successful round, the company has also brought several new members to its executive staff: Andy Harrison, managing partner at Section 32; and Cris De Luca, global head of 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.
“Mapping biological micro-environments with spatial mapping technology is an exciting area of discovery that is paving the way for innovative new therapies and diagnostic tools,” said Harrison.
“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 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 micro-environment.”