BostonGene Announces $150 Million Series B Funding at a Multi-Billion Dollar Valuation, Propelling the Company to Unicorn Status

Apr 07, 2022 10:19 JST

Source: NEC Corporation

Waltham, MA, Apr 07, 2022 - (JCN Newswire) - BostonGene today announced the completion of $150 million in Series B funding. NEC Corporation (TSE: 6701) led the financing with participation from Impact Investment Capital and Japan Industrial Partners. The capital will be used to scale BostonGene's growth, including continued innovation, clinical and research partnerships, and international expansion. Further, leveraging NEC's robust infrastructure, BostonGene and NEC intend to form a joint venture to bring lifesaving solutions to patients in Japan and other Asian countries.

"Many academic and community oncologists across the United States have already adopted BostonGene's Molecular Portrait Test to improve their patients' quality of care," said Takayuki Morita, President and CEO at NEC Corporation. "NEC recently launched a healthcare and life science business unit that utilizes AI and other digital technologies as a key initiative within our 2025 Mid-term Management Plan. We are thrilled to expand on our strategic partnership with BostonGene to advance how physicians treat their patients and dramatically improve clinical outcomes in the U.S., Japan, and the rest of the world."

"BostonGene has a unique opportunity to build a very large economic value that creates an even larger social impact. That combination is extremely rare, and I am excited and humbled by it," said Andrew Feinberg, President, and CEO at BostonGene. "This capital positions us well to execute on our vision to enable personalized treatment of cancer patients based on integrated molecular profiles of the tumor, tumor microenvironment, and host immunity."

BostonGene's innovative computational platform performs AI-based molecular and immune profiling to discover correlations between tumor genomics, a patient's immune system, and the effectiveness of all available approved and investigational treatments. The new windowBostonGene Tumor Portrait Tests, a sophisticated analysis of the tumor and tumor microenvironment (TME), reveals critical drivers of each tumor, including immune microenvironment properties, actionable mutations, and biomarkers of response to diverse therapies, and recommended therapies. BostonGene's integrated model of tumor genetics, transcriptomics, microenvironment, and tumor composition provides a 360 degrees overview of a patient tumor to give physicians invaluable insights into potential treatment options.

About BostonGene Corporation

BostonGene's mission is to power healthcare's transition to personalized medicine using our AI-based molecular and immune profiling to improve the standard of care, accelerate research, and improve economics. BostonGene Tumor Portrait Tests reveal key drivers of each tumor, including immune microenvironment properties, actionable mutations, biomarkers of response to diverse therapies, and recommended therapies. Through these comprehensive analyses, BostonGene Tumor Portrait Tests generate a personalized roadmap for therapeutic decision-making for each cancer patient. For more information, visit BostonGene at new windowhttp://www.BostonGene.com.

About Impact Investment Capital

Impact Investment Capital invests in opportunities with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return.

About Japan Industrial Partners, Inc.

Japan Industrial Partners (JIP) is a private equity firm based in Tokyo, Japan. JIP aims to provide funds and solutions to businesses with significant growth opportunities.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Sectors: MedTech