MEDiC Life Sciences Secures $5M in Strategic Investments from LG and Hanmi to Drive the Adoption of Its Innovative Cancer Biomarker Discovery Technology

Barchart · 10/14 17:29

MEDiC Life Sciences ("MEDiC"), a leading functional genomics startup in Silicon Valley, today announced a $5M strategic investment from LG and Hanmi Pharmaceutical (“Hanmi”). This funding comes ahead of MEDiC’s planned Series-A round later this year. Previously, MEDiC raised $8M in a Seed round led by a group of investors, including Illumina Accelerator, Top Harvest Capital, Primer Sazze, Big Basin Capital, First In Ventures, Valuence Ventures, Gradient, and Wing Venture Capital. The new capital will accelerate the adoption of MEDiC’s breakthrough cancer biomarker discovery technology, bolster business development, and advance drug discovery efforts.

MEDiC collaborates with leading pharmaceutical companies, including Bristol Myers Squibb (“BMS”), Hanmi, and other undisclosed U.S. firms, delivering its cancer biomarker/target discovery solution to enhance their cancer drug pipelines. At the heart of MEDiC’s innovation is its MCAT™ platform—a next-generation functional genomics platform that measures millions of gene-to-drug interactions, identifying Synthetic Lethality Signature (SLS™) biomarkers. These biomarkers represent multiple genetic mutations that are synthetic lethal when combined with a cancer drug, significantly improving patient response rates. By leveraging SLS™ biomarkers, MEDiC not only enhances drug efficacy but also expands the market potential of cancer therapies by identifying multiple biomarkers with significant prevalence in the patient population.

This pioneering approach transforms existing cancer drugs into synthetic lethal therapeutics with unique advantages over traditional treatments. MEDiC aims to use this funding to partner with pharmaceutical companies facing challenges in maximizing both the efficacy and marketability of their cancer drug assets. The company also seeks clinical validation of its SLS™ approach through collaborations.

"As cancer drug development faces high failure rates and rising costs, MEDiC’s approach holds the potential to reverse this trend," said a representative from LG, which led the strategic investment. "We recognize the value of MEDiC’s data-driven approach to solving critical issues in cancer drug development. MEDiC’s platform uniquely generates high-quality experimental data at massive scale, bridging the gap between AI and biotechnology."

Hanmi’s representative added: “MEDiC’s innovative cancer biomarker discovery technology is opening new possibilities for the development of novel cancer therapeutics. With MEDiC and its MCAT™ platform, Hanmi anticipates strengthening the anti-cancer portfolio, as well as enhancing the clinical efficacy leading to improve the success rate in clinical trials. We hope that through clinical validation of the SLS™ biomarkers, we can create opportunities to provide patients with more effective treatment options, and we look forward to shaping the future of cancer therapeutics together with MEDiC."

Kyuho Han, Ph.D., co-founder and CEO of MEDiC, commented, " This investment from LG and Hanmi in a challenging global climate is a strong endorsement of our technology. It will help accelerate the adoption of our solutions among pharmaceutical partners and bring us closer to clinical validation of SLS™ biomarkers. It will also support our efforts in early drug discovery for novel targets identified through our platform, creating additional value for MEDiC."

Co-founded by Kyuho Han, CEO, and Hong-Pyo Lee, CTO, both Stanford University alumni, MEDiC specializes in a proprietary functional genomics platform that uses 3D tumor models to identify optimal gene targets and biomarkers for cancer treatment. Unlike traditional 2D cultures, MEDiC’s use of 3D models improves the accuracy and translatability of functional genomics, positioning the company as a leader in the discovery of novel cancer targets and biomarkers for solid tumors. Its unique approach has already attracted high-profile partners who seek new biomarkers and targets for cancer drug development.

About MEDiC Life Sciences

MEDiC Life Sciences uses its MCAT™ platform to discover new therapeutic targets and biomarkers for solid cancers. In addition to developing its own drug programs, the company delivers novel targets and biomarkers for solid tumor indications being pursued by its partners' oncology programs. Founded in 2020, MEDiC emerged from discoveries made through Stanford University's SPARK program. MEDiC is backed by a group of financial and strategic investors, including LG, Hanmi Pharmaceutical, Top Harvest Capital, Primer Sazze Partners, Illumina Accelerator, Big Basin Capital, First In Ventures, and Wing Venture Capital. To learn more, visit www.medicls.com.