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On the 4th, cancer genomics big data company InnoCras announced that it has secured $31 million (approximately 45.1 billion won) in a follow-on Series B investment round.
New investors participating in this funding include IMM Investment, Korea Investment & Securities, Woori Investment & Securities, and Shinhan Investment Corp. Existing investors Dunamu & Partners, DSC Investment, and Interwest also joined the follow-on investment.
Notably, Dunamu & Partners has participated in all four investment rounds since its initial investment in 2022, cumulatively investing 14.5 billion won in InnoCras. Dunamu & Partners explained that it continued to invest following up on InnoCras' high evaluation of the company's technical capabilities and business viability in converting whole-genome data into information usable in clinical settings.
Founded in 2020, InnoCras is a precision cancer diagnosis startup established by medical scientists and geneticists from KAIST along with bioinformatics experts. Based on its proprietary bioinformatics technology, the company analyzes whole-genome sequencing (WGS) data of cancer patients to provide information necessary for cancer diagnosis and treatment. Currently, over 100 cancer specialty medical institutions across Asia are utilizing InnoCras' whole-genome-based precision cancer diagnosis solutions.
InnoCras' representative solutions include 'CancerVision', a precision diagnosis solution that predicts treatment responses based on patients' genomes and proposes customized treatment strategies, and 'MRD Vision', which detects minimal residual disease (MRD) in cancers.
With the proceeds from this investment, InnoCras plans to target the U.S. hospital market for its whole-genome-based precision cancer diagnosis solutions. The company intends to expand hospital adoption in the United States based on clinical experience accumulated in Asia, including South Korea and Hong Kong, while strengthening local sales networks and operational infrastructure.
Lee Kang-jun, CEO of Dunamu & Partners, stated, "InnoCras is a company that analyzes whole-genome data amounting to 3 billion pairs using its own algorithms." He added, "We expect InnoCras to grow into a data platform company leading global new drug development based on accumulated genomic big data, while advancing the diagnosis of cancer and rare diseases."
[MoneyToday Startup Media Platform Unicorn Factory]
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