On December 15, 2023, Pangea Biomed, the biotech company behind ENLIGHT, the multi-cancer response predictor improving the effectiveness of precision oncology, announced $5M in additional funding, reaching a total seed round of $12M. The latest fundraising is led by angel investor Danny Tocatly and existing investor NFX, and will be used to expand US operations, drive commercial partnerships, and scale product offerings. Launching from stealth earlier this year, Pangea aims to improve upon the dismal statistic that, despite significant investment in oncology R&D and approval of a number of efficacious immuno-oncology drugs, less than 10 percent of cancer patients benefit from today’s precision oncology treatments. The company’s ENLIGHT platform combines RNA sequencing with machine learning to pinpoint the best path toward combating a patient’s cancer, with a goal to increase patient benefits from precision oncology by 5x and democratize personalized cancer care.
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