Vancouver’s Canexia Health is merging with Montréal’s Imagia Cybernetics, an AI-healthcare company that accelerates oncology solutions generated from real world data.
Canexia is an oncology innovator that streamlines complex cancer genomic information which allows oncologists to identify optimal treatment selection and patient monitoring.
The merger includes a $20 million funding round that included BDC Capital’s Women in Technology Venture Fund, Desjardins Capital, and PacBridge Capital.
In addition to working with four leading pharmaceutical companies, Imagia and Canexia are integrated with 20 hospital systems and reference labs around the world. Their expertise in genomics, oncology, artificial intelligence, and informatics will enable health systems to bring testing in-house, delivering precision oncology to patients no matter where they live.
“This merger realizes new revenue streams from integrated workflow solutions, and more services that bring therapeutics to where patients need them most,” said Michael Ball, Canexia Health CEO.
The new company, Imagia Canexia Health, improves accessibility through cost-effective local testing, thereby reducing expenses and generating faster results. This integrated solution leverages AI-based informatics for treatment selection, patient monitoring, and provides clinical laboratories support to bring testing in-house.
The result is a new ability to integrate patient clinical and genomic data which achieves more effective treatment decisions by oncologists.
“Combining two advanced technology companies to bring affordable access to the best cancer treatments closer to the patient is exactly the kind of opportunity that we want to invest in,” said Michelle Scarborough, a Managing Partner at BDC’s Women in Technology Venture Fund.
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