Ziegler, a specialty investment bank, is pleased to announce it served as exclusive financial advisor to CancerIQ on a $14,000,000 Series B private placement led by Merck Global Health Innovation Fund and Amgen Ventures. McKesson Ventures, OSF Ventures (the investment arm of OSF HealthCare), and existing investor, HealthX Ventures, also participated in the round.
CHICAGO, April 29, 2022 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce it served as exclusive financial advisor to CancerIQ on a $14,000,000 Series B private placement led by Merck Global Health Innovation Fund and Amgen Ventures. McKesson Ventures, OSF Ventures (the investment arm of OSF HealthCare), and existing investor, HealthX Ventures, also participated in the round.
CancerIQ is the only cancer-focused precision health platform that empowers healthcare providers to detect cancer earlier and prevent it altogether across all patient populations. Integrated directly into real-time EHR workflows, CancerIQ makes it easy to gather comprehensive patient data, automatically map it to the latest evidence-based guidelines, and expand access to personalized care plans, cutting-edge clinical solutions, and genomic innovations. The new funding comes one month after a report from the President's Cancer Panel calling for "urgent and immediate action" to close gaps in cancer screening, risk assessment, and timely follow-up care — particularly among diverse, uninsured or underinsured, and rural populations.
Feyi Olopade Ayodele, Co-founder and CEO of CancerIQ, commented, "Ziegler's understanding of the landscape and market insight was immensely helpful throughout our process. Their knowledge and expertise in the precision health technology space streamlined our efforts in obtaining the capital needed to advance our mission."
CancerIQ's precision health platform, which is being used by clinicians at more than 180 locations across the country, makes it possible for providers to determine a patient's individual risk of cancer based on family history, genetics, behavior, and other factors, and then connect them to the corresponding care pathways. Those pathways range from MRIs, prophylactic surgeries and vaccinations to at-home screening kits, multi-cancer early detection (MCED) tests, lifestyle interventions and other services such as clinical trials, educational materials, and social resources.
CancerIQ is embedded directly into everyday workflows so clinicians in any care setting have the latest genomics research, clinical guidelines, and life sciences innovations at their fingertips.
Patrick Walsh, Managing Director in Ziegler's Healthcare Corporate Finance practice, commented, "We are fortunate to be alongside CancerIQ as they work to connect providers seamlessly with diagnostic and other care team members, and to help forge partnerships between providers, genetic information and molecular diagnostic companies, pharmaceutical sponsors, and others. A tremendous amount of good can be done when these constituencies are interconnected."
The new funding will help CancerIQ grow its precision health platform, strengthen its partnership ecosystem, and expand its health system network. Following a recent series of key executive hires, the company also plans to hire 50 team members to meet the rising demand for more efficient and innovative cancer prevention services. "CancerIQ's platform is revolutionizing the way oncology care stratifies and manages patients at all levels of cancer risk. We are happy to have served as CancerIQ's financial advisor throughout this process, and are eager to see their positive impact on the space and patient lives," said Grant Chamberlain, Senior Managing Director in Ziegler's Healthcare Corporate Finance practice.
"CancerIQ's vision is to end cancer as we know it by eliminating health disparities and democratizing access to the latest advances in cancer early detection and prevention," added Feyi. "We started by making genetic testing more accessible and connecting patients to the right preventive services at the right time. This latest round of funding will help CancerIQ grow the critical infrastructure needed to transform cancer from a deadly disease to a manageable condition."
For more information about Ziegler, please visit us at http://www.ziegler.com.
About Ziegler:
Ziegler is a privately held investment bank, capital markets, and proprietary investments firm. Specializing in the healthcare, senior living and education sectors, as well as general municipal and structured finance, enables Ziegler to generate a positive impact on the clients and communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States,
Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading and research. To learn more, visit http://www.ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client's experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
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Christine McCarty, Ziegler, 3126221799, [email protected]
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