BioTech: Austrian Startup Allcyte raises $6m seed round following breakthrough cancer clinical trial

●Allcyte uses automated microscopy and AI powered single-cell resolution imageanalysis on live patient tissue samples to predict highly effective cancer treatments in the clinic.

●In a first for functional precision medicine, a clinicaltrial using Allcyte’s Pharmacoscopy ® platform showed 55% of late-stage bloodcancer patients who hadex hausted all other care responded to treatments recommended by the platform, significantly prolonging the lives of patients thought to be without options.

●Five of the world’s top 15 pharmaceutical companiesare already working with thecompany to guide their drug development process andinvestigate patient selection.

●New investors in the $6m seed round include Air StreetCapital, 42cap, PUSH Ventures, Amino Collective, and VP Venture Partners.

Vienna, 25 March
Biotech company Allcyte today announced a seed round of $6m following a breakthrough clinical trial that provesits “functional” precision method works inthe clinic. In the first-ever prospective interventional study of its kind, led by researchers at the Medical University of Vienna in collaboration with the CeMM Research Center for Molecular Medicine of the Austrian Academy of Sciences (CeMM), late-stage blood cancer patients who had exhausted all other care options shared livetissue samples for analysis by Allcyte’s Pharmacoscopy ® platform. The subsequent cancer therapy recommendations provided by Allcyte’s platform proved effective for 55% of the patients who participated. Trial results were presented at the American Society of Hematology’s 2020 conference in December and will be published later this year. Allcyte’s platform is able to predict highly effectivecancer treatments in the clinic by takinglive tissues from cancer patients, testing different drug types on those cells and visualizing the outcome under a microscope with single-cell resolution. The technique, originally developed at CeMM, applies advances in automated microscopyand AI-powered imageanalysis to quantify the effectiveness of different drugs on those cancer cells quickly and provide actionable information back to physicians. This is enabling them to recommend cancer therapies with a significantly improved chance of success over standard of care inprior treatment lines.

Allcyte’s Pharmacoscopy ® “functional” precision medicine approach is the first of its kind capable of analysing drug reactions on both blood cancer and tumour tissue in a lab settingand predict which therapies will work best in theclinic. By measuring overall cell responseto drugs, the process integrates different levelsof biology, including genetics, geneexpression but also the tumour microenvironment, to quantify the effectiveness of different drugs quickly, in real time, and provide actionableinformation back to physicians. Allcyte’s system reflects an important departure fromthe prevailing approach to selectingcancer therapies by relying on a patient’s tumour DNA. Known as genetics-driven precisionmedicine, sequencing a patient’s cancer and suggesting treatments based on mutational biomarkers has not proven to be the silver bulletonce hoped for. For instance, in a 2020 clinical trial, published in Nature, up to90% oflung cancer patients who smoked did notrespond to therapies proposed by a genomics-driven approach, even when treatment wasmatched to the correct biomarkers, likely because smoking added a level of complexity that genetics alone could not predict. Pharma companies are also making use of Allcyte’s functional system to guide the drugdiscovery process. Allcyte is already earning revenue through partnerships with five of the world’s top 15 pharma companies. In time, the unique,rich and extensive data Allcyte collects from its diagnostic platform will help pharma companies target new pathways, generating enormous new opportunities in drug discovery. The new $6 million seed round is led by Air Street Capital, 42cap, PUSH Ventures, AminoCollective, VP Venture Partners.

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