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U.S.-based OrbiMed and Qiming Venture Partners USA co-led the round, with other investors including Innovation Endeavors, Benchstrength, Fusion Fund, and Toronto-based Lumira Ventures through its Cancer Breakthrough Fund. Altis said it will use the money to expand its AI models across more cancer types and scale its business with global biopharmaceutical companies. (The Logic)
Talking point: Altis makes AI software for cancer-drug trials. Its technology analyzes patients’ medical scans to help drug companies determine sooner whether an experimental treatment is likely to extend patients’ lives. The company said this could help promising drugs move forward faster, and stop ineffective ones before companies spend heavily on larger trials.
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