BEND, Ore., Aug. 1, 2019 /PRNewswire-PRWeb/ -- Amplion, an Oregon-based Biomarker Intelligence company, announced the successful close of its Series A financing led by Greycroft with participation from existing investors, including Revolution's Rise of the Rest Seed Fund and Imagen Capital Partners. The funds will help the company aggressively expand its sales and marketing efforts as well as accelerate product development.
"Our due diligence made it apparent that precision medicine is the future of the life sciences industry and biomarkers are the cornerstone. However the body of work surrounding biomarkers has gone far beyond human scale in terms of both breadth and fluidity," noted Will Szczerbiak, Principal at Greycroft. "Amplion's AI models put the entire biomarker corpus of knowledge at users' fingertips, allowing the latest research and insights to be understood in real-time. We believe the company has great potential to accelerate the precision medicine trend and define the category."
The Series A financing builds on an exceptional year for Amplion which saw a rapidly growing roster of clients, key executive appointments, and market momentum in applied biomarker intelligence. Amplion appointed Pharma veteran Amanda Enstrom, PhD as Chief Product Officer and engineering leader Mike Harrington as Chief Technology Officer to join the company's executive ranks.
Dr. Amanda Enstrom can attest to the power of Amplion's platform having been at the forefront of biopharma discovery for over 10 years, spearheading biomarker strategic planning and clinical trial strategy at leading biotechs including Bavarian Nordic, Aduro, and Tempest Therapeutics.
"Gathering and analyzing evidence is crucial for enabling effective decision making in drug and diagnostic development, yet it's extremely time consuming to do well and it doesn't need to be," added Enstrom. "I am thrilled about the platform that we're developing for the Life Science industry and deeply excited for the future of precision medicine and Amplion's role in helping shape how the industry does this critical work."
Mike Harrington joins the company to deliver on a more rapid realization of the product roadmap. With 24 years of experience at Microsoft and Google, co-founding Valve Software and Picnik, Harrington brings strong engineering leadership to drive innovation, optimization and scalability for Amplion's customers.
Since inception, Amplion has been accelerating precision medicine initiatives by synthesizing the world's biomedical knowledge with targeted machine learning to deliver relevant and timely analysis to pharmaceutical and diagnostic organizations. With explosive growth in new evidence continuing unabated, the ability to rapidly transform unstructured data into actionable intelligence has become more important than ever.
"As an industry we're just scratching the surface of how powerful biomarker intelligence can be to the success of targeted therapies," stated Chris Capdevila, Amplion's CEO. "Pharma and Diagnostic companies do very important work that impact the lives of millions of people. It's this very fact that drives the entire team at Amplion on our mission to help them accelerate precision medicine and improve patient outcomes."
Amplion's biomarker intelligence platform is transformational for pharmaceutical and diagnostic companies. The power of machine learning combined with data mining and smart visualization, reveal profound and actionable insights which are critical for the success of precision medicine and ultimately, our collective ability to improve human health.
About Amplion
Amplion is an intelligence platform using machine learning and biomedical domain expertise to accelerate Precision Medicine. By harnessing the world's largest and fastest growing corpus of biomedical evidence, the company's solutions deliver timely, targeted, and actionable insights to enable confident strategic decisions in drug and diagnostic development. Amplion has established trusted partnerships with leaders in precision medicine that leverage the platform to discover new opportunities and realize strategic objectives. Learn more at Amplion.com.
SOURCE Amplion
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