With this unprecedented growth, ImpriMed has solidified its position as a leader in AI-powered predictive tools in the veterinary medicine space
PALO ALTO, CA, UNITED STATES, January 24, 2022 /EINPresswire.com/ -- ImpriMed, Inc., a leading veterinary precision medicine startup, today announced that it gained significant business growth last year by securing a total of $8 million in Pre-Series A funding while launching its new services and expanding its teams.
“This past year was an outstanding year for ImpriMed in terms of growth and industry recognition. We launched our first commercial service for canine lymphoma patients after four years of technology development and clinical studies. I am most excited about the momentum we’re building for the future. The veterinary oncology space is ready to embrace artificial intelligence and innovative technologies in providing cancer care to their patients,” said Dr. Sungwon Lim, CEO and Co-Founder of ImpriMed. “We look forward to remodeling the platform to enhance our AI and research projects by providing our customers with cutting-edge, accurate information and actionable reports.”
In 2021, ImpriMed raised a total of $8 million in Pre-Series A funding in addition to a $4 million raised in their Seed round. The funding helped ImpriMed to accelerate the performance of its AI-powered predictive tool that identifies which anticancer drugs are most likely to be effective for a particular dog’s lymphoma or leukemia. ImpriMed generated its first revenue in 2021, serving veterinary oncologists and their canine lymphoma patients.
Later in the year, the company added new commercial services to their advanced drug response prediction profile for canine hematopoietic cancers, which offers separate stand-alone immunophenotyping service via flow cytometry and clonality testing by PARR (PCR for Antigen Receptor Rearrangement), firmly cementing the biotech startup in the veterinary diagnostic support space.ImpriMed refined the commercial services by:
- Developing and adding new AI models that predict the prognosis of the gold standard CHOP chemotherapy
- Automating and optimizing laboratory workflow — accredited by A2LA
- Upgrading the user interface of the Vet Portal to save time for oncology teams
ImpriMed grew their veterinary oncology network by:
- Adding an additional 65 hospitals
- Working with 80+ new oncologists
- Adding feline lymphoma and leukemia ‘free’ services to develop feline serviceso Receiving 100+ additional feline samples
- Receiving hundreds of paid canine services that validated our commercial efforts
Expansion of the US team also contributed to this significant growth. ImpriMed added seven new employees in the US to support our new models and commercial growth, growing the team from 10 people in 2020 to 17 in 2021.
ImpriMed was the first prize winner of the Ascent 2021 Conference's “Spotlight on Startups.”
About ImpriMed
ImpriMed provides cutting-edge personalized medicine easily accessible for pets with blood cancer diseases. ImpriMed’s key service, Personalized Prediction Profile, has been used by board-certified veterinary oncologists, helping over 2,500 dogs with lymphoma and leukemia. With ImpriMed services, veterinarians make their treatment decisions quickly and with confidence. This innovative approach to cancer care has been published in scientific journals and presented at major conferences and is supported by over 200 veterinary oncologists at 130+ specialty hospitals in the US. ImpriMed has raised over $12 million from leading venture capital firms to advance its mission to provide precision medicine for pet cancer care to all. For more information on the company, please visit ImpriMed and direct all media inquiries to press@imprimedicine.com or visit www.imprimedicine.com.
