Oncora Medical Raises $1.2M Seed Round
PHILADELPHIA, PA, Digital health startup, received $1.2M in seed financing.
Oncora Medical, a Philadelphia-based digital health startup, received $1.2M in seed financing. Oncora operates in the radiation oncology space and is developing software to improve the way doctors treat cancer with radiation. Investors in the round include San Francisco-based iSeed Ventures, Philadelphia-based BioAdvance, and well-known medical physicist and entrepreneur, Dr. Thomas 'Rock' Mackie. Proceeds from the financing will be used to establish a world-class engineering team in Oncora's Philadelphia headquarters and complete early product installations with leading health systems.
David Lindsay and Chris Berlind founded Oncora in 2014 to help radiation oncologists access, organize, and learn from past radiation treatment data. Radiation is an important part of treatment for two-thirds of cancer patients. Currently, physicians have no way of integrating data from past treatments into their decision making process. Meanwhile, patients receiving radiation are suffering from potentially avoidable negative side effects. Oncora's software platform harnesses this valuable data and arms doctors with powerful tools to create personalized treatments for future patients.
When asked how the technology will improve care for patients, Lindsay explains: 'With access to data from tens of thousands of past patients, radiation oncologists can make highly informed treatment decisions and offer personalized treatment plans for future patients. These treatments will minimize the risk of toxicities while maximizing the chance for a cure. This is a big step towards personalized oncology care.'
Support for Oncora in Philadelphia is widespread. 'Oncora is a great example of Philadelphia's growing digital health ecosystem,' said Gary Kurtzman, MD, Managing Director, Healthcare at Safeguard Scientifics (NYSE:SFE), who is joining Oncora's board of directors as chairman. 'David brought Oncora as a project to my healthcare entrepreneurship class at The Wharton School of the University of Pennsylvania last spring and continued to develop the project afterwards by joining the Dreamit Health Accelerator. David has also received support from Wharton Entrepreneurship, Penn HealthX, First Round Capital's Dorm Room Fund, Ben Franklin Technology Partners, and the University City Science Center's Digital Health Accelerator. The current round of funding represents strong additional support for the Oncora platform.'
About Oncora Medical
Oncora Medical is a healthtech startup in Philadelphia. Founded by David Lindsay and Chris Berlind, Oncora applies machine learning to radiation therapy data to improve quality of life for cancer patients. Oncora is supported by iSeed Ventures, BioAdvance, and others. Oncora is also a participant in the University City Science Center's Digital Health Accelerator and is supported by the Ben Franklin Technology Partners of Southeastern PA, an initiative of the Pennsylvania Department of Community and Economic Development funded by the Ben Franklin Technology Development Authority. More info is available at oncoramedical.com.
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