The biotech company Reveal Genomics has raised $594,000 (€500,000) from a national business angel, whose name has not been disclosed. The company, founded in September 2020, specializes in the development of innovative diagnostic tools to determine the best therapeutic options for cancer patients.
The Spanish biotech company will use the funds to carry out two projects that address breast cancer, according to Patricia Villagrasa-González, co-founder and CEO of Reveal Genomics. The most advanced study focuses on early-stage HER2+ breast cancer, while the other is still under investigation. The most advanced project consists of developing a test to determine the risk of relapse that a patient who has been cured of breast cancer has and what is the best treatment. Currently, a large percentage of patients are cured, but 20% relapse and generate metastases.
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Reveal Genomics seeks to revolutionize the use of biomarkers in oncology and to develop innovative diagnostic tests
The healthcare professional currently has no tools to identify whether the recovered patient is at high risk of relapse or not. In addition, Vilagrasa-González points out that the function of the service will make it possible to de-escalate the treatment of cured patients. “It is a tool that will provide a solution to many medical and economic needs and will solve the problems of overtreatment and undertreatment,” said the co-founder and CEO of Reveal Genomics.
This diagnostic test for breast cancer addresses HER2+ breast cancer. Reveal Genomics’ goal is to revolutionize the use of biomarkers in oncology and develop innovative diagnostic tests to help oncologists and patients choose the best treatment for their cancer. Vilagrasa-González says that making therapeutic decisions based on a single alteration is not enough to predict the behavior of a tumor.
The company expects to bring its first test to market in 2023
The services developed by the biotech will make it possible to cure a greater number of cancer patients, improve their quality of life and increase their life expectancy so that they can receive new drugs. The company is the result of “providing an outlet for research that remained on paper to make it reach the final beneficiary,” the company’s management points out.
Reveal Genomics plans to open a financing round in late 2021 or early 2022 to continue clinical validation of its first diagnostic test, finish the regulatory phase and reach the market in 2023. The approximate amount that the company would require to carry out these advances will be five million euros, although this will be specified in the business plan. The biotech company is a spin-off of Hospital Clínic de Barcelona and Vall d’Hebron Institut d’Oncologia (Vhio). Aleix Prat, head of the medical oncology service at Hospital Clínic de Barcelona, Ana Vivancos, from Vhio, and Charles M. Perou and Joel S. Parker, from The University of North Carolina at Chapel Hill are also co-founders of Reveal Genomics.
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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