Philly startup Oncora Medical received an investment of an undisclosed amount from Varian. and has joined in a strategic partnership between the two, it was announced Friday. The partnership’s goal is to accelerate the development of software tools to enable precision medicine in radiation oncology.
Varian Medical Systems (NYSE: VAR), based in Palo Alto, combines radiation technology with intelligent software tools to attack, reduce and cure cancer. Varian had revenue of $826 million and net income of $29.4 million in its latest quarter ending in June. It has a market cap of nearly $11 billion.
Oncora Medical, Inc. has developed a predictive analytics platform for oncology, capable of analyzing diverse healthcare data and applying advanced machine learning techniques to produce valuable clinical insights.
An important benchmark in Oncora’s development was its joint study, begun in 2017, with University of Texas MD Anderson Cancer Center in Houston to help radiation oncologists develop personalized treatment plans with the goal of improving outcomes.
CEO David Lindsay (Penn) and CTO Chris Berlind, PhD co-founded Oncora Medical in 2014. Gary Kurtzman, MD of Safeguard Scientifics is Board Chairman.
Its raised $2.6 million prior to Varian’s investment, according to SEC filings. iSeed Ventures, DreamIT Ventures and Dorm Room are among the investors.