Iterative Scopes, a Cambridge, MA-based pioneer in the development of precision-based gastrointestinal (GI) disease technologies and software, raised $150m in Series B financing.
The round was co-led by Insight Partners and Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”), as well as by returning investors Obvious Ventures, Johnson and Johnson Innovation-JJDC Inc., Eli Lilly, Breyer Capital and other industry and financial leaders. In conjunction with the funding, Lonne Jaffe, Managing Director at Insight Partners, is joining Iterative Scopes’ board.
The company intends to use the funds to accelerate development of its core algorithmic innovations that are designed to transform gastroenterology care for patients.
Led by Founder and CEO Jonathan Ng, Iterative Scopes is a developer in the application of artificial intelligence-based precision medicine for gastroenterology with the aim of helping to optimize clinical trials investigating treatment of inflammatory bowel disease (IBD). The technology is also designed to potentially enhance colorectal cancer screenings. Its proprietary artificial intelligence and computer vision technologies have the potential to improve the accuracy and consistency of endoscopy readings. Iterative Scopes is initially applying these advances to impact polyp detection for colorectal cancer screenings and working to standardize disease severity characterization for inflammatory bowel disease. Longer term, the company plans to establish more meaningful endpoints for GI diseases, which may be better predictors of therapeutic response and disease outcomes. Spun out of MIT in 2017, the company is based in Cambridge, Massachusetts.
FinSMEs
19/01/2022