What You Should Know:
– CancerIQ raises $5M in Series A funding led by HealthXVentures to accelerate the growth of its genetic cancer risk assessment platform to identify and manage patients at high risk of cancer.
– CancerIQ’s technology enables hospitals to use genomics to personalize the prevention and early detection of cancer.
– Two new hires recently joined CancerIQ’s newly formed Integrated Products team from Epic, with the goal of advancing CancerIQ’s integration with leading EMRs.
CancerIQ, an enterprise precision health platform for cancer, today announced it has raised $4.8M in Series A funding led by HealthX Ventures, a digital health-focused venture capital firm led by Mark Bakken, the founder and former CEO of Nordic Consulting, the largest Epic consulting firm. CancerIQ will use the funding to accelerate the growth of its current offering and deepen integrations with EHRs and genetic testing partners. Other institutional investors including Impact Engine and Lightbank, co-founded by Eric Lefkofsky (founder of Tempus and co-founder of Groupon) and Brad Keywell (co-founder of Groupon), also participated in the round.
Genetic Cancer Risk Assessment Platform to Manage Patients at High Risk of Cancer
Founded in 2013, CancerIQ helps healthcare providers use genetic information to predict, preempt, and prevent cancer across populations in both urban and rural settings. By analyzing family history, running predictive risk models, and automating NCCN guidelines, CancerIQ empowers providers with the genetic expertise to prevent cancer or catch it early.
CancerIQ’s workflows enable health systems to execute precision health strategies for patients predisposed to cancer, by:
• Identifying the 25 percent of the patient population that qualifies for genetic testing
• Streamlining the genetic testing and counseling process, via telehealth if required
• Managing high-risk patients over time
• Tracking outcomes at the individual and population levels
In addition, the platform allows hospitals to convert their cancer risk assessment and management programs to virtual visits with its complete telehealth cancer risk platform. CancerIQ has been rapidly adopted by some of the top health systems in the country and fully integrates with genetics laboratories, EHRs, and specialty software vendors to streamline workflow, guide clinician decision making, achieve cost savings, and — most importantly — improve patient outcomes.
CancerIQ will use the funding to accelerate the growth of its current offering and deepen integrations with EHRs and genetic testing partners. The company is experiencing a rapid growth year despite the COVID-19 crisis. Precision health has become an even more important technique for early detection and prevention of disease. Over 80,000 patients have missed their cancer screening appointments, but health systems are rapidly adopting CancerIQ to triage and prioritize those in need of most urgent care.
“Partnering with HealthX allows us to build on the solid foundation we have serving over 70 institutions, and enable system-wide precision health,” said Feyi Ayodele, CEO, CancerIQ.
Addition of Strategic Hires to Epic Integration Team
Two new hires recently joined CancerIQ’s newly formed Integrated Products team from Epic, with the goal of advancing CancerIQ’s integration with leading EMRs:
Lisa Glaspie, Director of Integrated Products
– Glaspie spent 16 years at Epic, where she was directly involved in many integrations, data management, and conversion projects spanning a wide array of clinical and specialty system vendors, as well as custom in-house products. She will inform how CancerIQ can be deeply integrated across more clinical specialties.
Ashar Wasi, Integrated Product Specialist
– Wasi spent the last 11 years at Epic on the implementation team for Epic’s radiology and cardiology modules. At CancerIQ, he will help client teams understand different integration methods and provide context on the scalability of CancerIQ’s FHIR-based approach.
“To engage primary care, radiology, and cardiology in precision health — we need our content to be deeply embedded in the EHR systems they already use. We’re excited to bring Lisa and Ashar on board for their domain expertise with Epic, so fewer high risk patients fall through the cracks,” added Ayodele.