sam patrick posted an articleKIYATEC Announces Investment from Seae Ventures and Names Managing Partner Jason Robart to KIYATEC Board of DirectorsCancer testing innovator KIYATEC fits investor’s focus in disruptive healthcare technology see more
KIYATEC, Inc. announced today that it secured a $2.5 million investment from Boston-based healthcare service and technology venture capital fund Seae Ventures. The fund’s focus in disruptive healthcare technologies aligns with KIYATEC’s goal to fundamentally change the way cancer drugs are selected by providing oncologists with patient-specific evidence of response, prior to treatment initiation.
Although significant strides toward personalized medicine have been achieved in the past two decades, oncologists remain largely unable to predict treatment response for individual patients. As a result, many patients receive ineffective drug therapies, while unnecessarily experiencing toxic side effects and shouldering high cost of treatment. KIYATEC’s 3D-Predict platform and associated tests increase the patient-centric value of cancer drugs by informing oncologists’ pre-treatment cancer drug selection. Importantly, the platform also aids pharmaceutical companies by improving decision-making across drug lifecycles.
“We are grateful for Seae Venture’s ’yes’ to KIYATEC and welcome the addition of their managing partner, Jason Robart, to our board of directors. The fund’s healthcare industry relationships coupled with Jason’s personal experience with health insurance innovation will be beneficial as we implement our strategy to impact those who need it most – cancer patients and their providers,” said Matthew Gevaert, CEO and co-founder of KIYATEC.
The investment comes on the heels of other recent announcements of success for KIYATEC. The first release of the 3D-PREDICT clinical study data in late 2020, combined with the more recent March 2021 publication demonstrating platform expansion into immuno-oncology, highlight the rapid and disruptive nature of KIYATEC’s progress. The company’s platform has been shown to be clinically predictive for patient-specific response to chemotherapy and targeted agents, and it has been analytically validated in both ovarian cancer and high-grade gliomas.
Robart said, “KIYATEC has the potential to significantly improve outcomes for patients and their providers, not just for one cancer type, but across many solid tumors. We’re excited about the science, the team and the potential. We welcome KIYATEC into our portfolio of companies and I’m thrilled to join its board of directors.”
KIYATEC leverages its proprietary ex vivo 3D cell culture platforms to accurately model and predict response to approved and investigational cancer drugs targeting a spectrum of solid tumors. The platforms are positioned to address the gap-defining limitations of current cancer drug selection. The company’s Clinical Services business is currently engaged in the validation of clinical assays as well as investigator-initiated studies in ovarian cancer, breast cancer, glioblastoma and rare tumors, in its CLIA-certified laboratory. The company’s Drug Development Services business works in partnership with leading biopharmaceutical companies to unlock response dynamics for their investigational drug candidates across the majority of solid tumor types.
sam patrick posted an articleKIYATEC Announces $3 Million Initial Closing of Series B2 Preferred Stock Financing and New Investor LabCorpKIYATEC closes on new round of financing see more
GREENVILLE, SC. – May 1, 2019 – KIYATEC, Inc. today announced the initial $3 million closing of the company’s series B2 financing round. The round was led by VentureSouth and included LabCorp® (NYSE: LH).
“This validation and confidence by our investors, coupled with the exciting progress of our clinical trials, puts us on the path toward the next phase of growth and development,” said Matthew Gevaert, CEO of KIYATEC. “We are particularly excited to welcome LabCorp as a new investor because of the depth and breadth of their expertise in oncology. With the preclinical and clinical development strengths of LabCorp’s Covance Drug Development business, and their corporate position as a world leader in clinical testing, there is great potential synergy across the many ways KIYATEC’s technology can be used to improve cancer care.”
Proceeds from the financing will go toward KIYATEC’s ongoing clinical study, 3D-PREDICT, to validate KIYATEC’s proprietary assay as a patient-specific predictor of response to cancer therapies for solid tumors. The test analyzes a patient’s live cancer cells, grown in KIYATEC’s laboratory within a biologically relevant 3D microenvironment, to determine whether those cells respond to guideline-recommended cancer drugs. The 3D-PREDICT study is a fully prospective, multi-institutional effort to validate the predictive accuracy of the test and correlate response predictions to clinical outcomes among patients with newly diagnosed and relapsed ovarian cancer, glioblastoma and certain rare tumors.
The company has gained significant momentum in 2019. Recently, at the 110th Annual Meeting of the American Association for Cancer Research (AACR), KIYATEC demonstrated leading capabilities in modeling and predicting response to immuno-oncology therapies including checkpoint inhibitors. On April 10, KIYATEC was one of 20 companies recognized nationally on Capitol Hill as part of the 2019 University Innovation & Entrepreneurship Showcase. In the first quarter of 2019, KIYATEC added three clinical sites to its 3D-PREDICT study and expects to continue its momentum by adding additional sites in the second and third quarters.
About KIYATEC, Inc.
KIYATEC is dedicated to accurately modeling and predicting cancer patient response to drug therapies, using ex vivo 3D cell culture technology, in order to inform clinical decision making and drive drug development. Our predictive clinical tests provide oncologists with patient-specific response profiles to current standard of care drugs prior to treatment selection. Our predictive 3D models are being used by leading biopharmaceutical companies to increase the success of their preclinical and clinical drug development programs as they develop the cancer therapies of the future. www.kiyatec.com.