Notable Labs Scores $40M Series B Round
SAN FRANCISCO, CA, Notable Labs has announced a $40 million Series B round.
Notable, which is redefining cancer treatment with a clinically validated platform that rapidly advances cancer drug development at a fraction of the traditional time and cost, announced a $40M Series B round. The round is co-led by B Capital Group and LifeForce Capital. LifeForce is a returning investor, joined by new investors B Capital and Industry Ventures. This round brings Notable's total funding to over $55M.
Notable's approach can help predict which types of patients are most likely to respond to a drug in as little as 5 days. This can help patients and their physicians make informed decisions about which clinical trials will be most effective, while also increasing the likelihood of a trial's success. Better matching of patients with therapies increases response rates, which can accelerate FDA approval.
In a recent clinical trial, Notable achieved an 84 percent overall accuracy rate in predicting patient response to drugs or drug combinations. The company's approach has been validated in multiple independent clinical studies conducted by Stanford University, MD Anderson Cancer Center, University of California San Francisco, Rady Children's Hospital, and Texas Children's Hospital, among others.
"We are very impressed with the groundbreaking work Matt and the team at Notable have done over the last few years to change how cancer can be treated with the goal of completely personalized treatment from the point of diagnosis," said John Noonan, Managing Partner of LifeForce Capital.
"LifeForce Capital is increasing its commitment to the company because of the results Notable has already achieved, and because Notable's technology will continue to help physicians use data to make more informed decisions on which treatments and clinical trials will be most effective for each individual patient. We are proud to invest in technology like Notable with the potential to profoundly improve patient outcomes."
"We've seen what Notable's technology platform can do to predict patient responses to cancer drugs. They affect patients today by finding the best therapy for each specific patient in a way that other precision medicine tools can't. That same platform is also ideally suited to identify new therapies and accelerate their progress through clinical trials," said Adam Seabrook of B Capital Group. "We are
thrilled to invest our time and resources to help Notable deliver precision medicine to patients today and accelerate research on the next generation of therapies in the fight against cancer."
Matt De Silva, Notable's founder, started the company to help his own father, who suffered from a deadly brain cancer. "Patients with aggressive cancers are in a race against time, but if we can use technology to identify the best drug or drug combination at the time of diagnosis, there is a much better chance those therapies will work," said De Silva. "We are eager to scale the results we've generated with our academic collaborators by expanding our AI platform and automated laboratory to more cancer types. Our team lives and breathes Notable's mission every day and we're grateful to have the support of existing investors like LifeForce Capital and new partners like B Capital Group and Industry Ventures
who share our excitement."
Notable is redefining cancer treatment with a clinically validated AI platform that rapidly advances cancer drug development at a fraction of traditional costs. Notable's approach combines AI with an automated lab to determine which drugs or combination of drugs will be most effective for specific types of cancers, enabling drug companies to recruit the right patients into clinical trials. The resulting high response rates in those trials can accelerate the process, eliminating much of the time and cost in later-stage trials, and helping to get drugs to market years faster at a lower cost to patients. Learn more at https://notablelabs.com/ or follow @notablelabs.
About B Capital Group
B Capital Group is a global venture capital firm that invests in groundbreaking healthcare, fintech, industrial logistics and consumer enablement companies that are primed to scale across the global stage. Founded in partnership with The Boston Consulting Group, B Capital Group delivers unique access to top corporations to match cutting-edge start-ups with the world's leading CEOs, platforms, and brands. Existing portfolio companies include AImotive, Atomwise, Bright.md, SilverCloud Health, CXA, Evidation Health, Fishbrain, Icertis, Bounce, Lanetix, Ninja Van and Journera. For more information, visit http://www.bcapgroup.com/.
About LifeForce Capital
LifeForce Capital invests in healthcare companies that are improving care delivery at scale or enabling more efficient therapeutic development. Existing portfolio companies include Advantia, Cricket Health, Dr. Consulta, Galileo, Grand Rounds, HeartFlow, One Medical, Second Genome, Senti Biosciences, Verge Genomics, Vineti and Wren Therapeutics. For more information, visit https://www.lifeforcecap.com.
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