February 1, 2022 -- PrecisionLife closed its first series A investment round. The financing will enable the expansion and progression of the company's pipeline of commercial opportunities targeting complex chronic diseases. PrecisionLife said it anticipates the second close of the series A investment round in the coming months.
The investment will be used to expand the application of PrecisionLife's combinatorial analytics platform into drug repositioning, which will take place with the launch of its new Indication Extensions solution. Indications Extensions is designed to identify new precision medicine opportunities for existing patented drugs in novel disease areas.
Additionally, the investment will be used to attract key talent, to deliver a series of partnered R&D projects currently in negotiation with international biopharma and healthcare organizations as well as to initiate an in-house therapeutics pipeline.
Partnered projects under negotiation include R&D research studies into the long-term effects of the coronavirus (long COVID), Lou Gehrig's disease, and multitarget discovery and validation deals with major pharmaceutical companies.