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Pharma Tech Outlook | Wednesday, April 07, 2021
Scipher is thrilled to have the support of its investor partners as its continue on its endeavor of using data to ensure better patient care is at the center of healthcare.
FREMONT, CA: Scipher Medicine, a precision immunology firm matching patients with the most effective therapy, completes its Series C financing led by aMoon and Northpond Ventures, with participation from Echo Health Ventures and existing investors, Khosla Ventures and Alumni Ventures. To date, the firm has raised $117 million.
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An estimated $630 billion is wasted when patients have prescribed drugs they don’t respond to, placing a clinical and financial burden on the healthcare system. The majority of arthritis patients prescribed the largest selling drug class, tumor necrosis factor inhibitors (TNFi) therapy, don’t respond to treatment at a per-patient cost of over $65,000 per year, even though effective alternative drugs are available in the market.
Scipher Medicine will leverage proceeds to widen commercial efforts for its patient molecular signature test, PrismRA, ensuring rheumatoid arthritis patients are prescribed optimal targeted therapy and data collaborations discover novel treatment targets based on their large and evolving patient clinico-genomic database created from tested patients.
Providing access to tests like PrismRA is critical to offering optimal care for patients with rheumatoid arthritis while ensuring that speciality drug spend directed towards therapies that assist autoimmune patients live a better life. Scipher’s method to ensuring therapy is directed to appropriate patients generates cross-stakeholder alignment towards higher quality, cost-effective care.
A significant number of patients are taking suboptimal drugs. To alleviate this, it is essential to analyze a patient’s molecular signature to ensure optimal therapy is prescribed. Scipher Medicine is a pioneer in precision medicine for autoimmune disease, as indicated by its PrismRA test release. The company continues to be impressed with how the team executes its vision to utilize its Network Medicine platform to change the understanding of disease and drug selection across the healthcare system.
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