The liquid biopsy startup plans to use the money to “grow its team of cancer researchers and machine learning experts and to validate its next-generation blood-based testing technology in prospective clinical trials.”
The immunotherapy biotech startup has two candidates in human trials and recently appointed Dr. Robert Knight as its new chief medical officer.
“The market for digital health is about to explode, mostly because of a startling cultural mind shift change,” Sebastian Seiguer wrote on NASDAQ.com.
Avhana’s clinical decision support tools integrate with electronic health records. Amalgam makes digital therapeutics and will add Avhana’s tools, “seeking to expand them into other areas of medicine and combining them with other digital solutions.”
“When investors and entrepreneurs see a critical mass of companies in Maryland and in Baltimore raising significant dollar amounts, they realize this is an ecosystem where they can build, hire great talent and raise the money they want,” Wyskiel said.
Delfi Diagnostics, Relavo Medical and Flave, along with Social Innovation Lab alumni Parity, Infinite Focus Schools, MindStand Technologies, Rose and SpreadKarma, made the publication’s list of the 20 most promising startups in the Baltimore region.
The organization is one of 50 Black-led nonprofits nationwide given money to provide digital skills and workforce development to Black communities.
The money, which will be distributed next month, will go to “companies that face the highest barriers to obtaining funding from traditional sources, and that are expected to be able to scale when the current crisis subsides.”