InnoSIGN Completes Spinoff from Philips

Precision medicine company InnoSIGN raised $8 million Series A financing, which it will use to finance a spinout from Philips to a standalone company focused on OncoSIGNal pathway activity profiling tech.
 
InnoSIGN’s OncoSIGNal mRNA-based tests measure signal transduction pathway activity in cancer and immune cells to predict how patients will react to targeted drugs. The OncoSIGNal qPCR 7 pathway test is only available for research use. Research labs can run the test on conventional PCR machines, combining it with OncoSIGNal cloud-based data analysis software.
 
The investment will help InnoSIGN complete further clinical validation studies and launch in the U.S. market. The U.S.-based InnoSIGN Inc. will maintain its leading R&D facility in Eindhoven, The Netherlands.
 
OncoSIGNal was created by Philips Research scientists as breakthrough tech to quantify cell signaling pathway activity. Proprietary software normalizes and translates mRNA levels transcribed from a suite of selected genes into activity scores of relevant signal transduction pathways.
 
“I am excited with the investment and sponsorship from this strong syndicate of US and Dutch investors,” Paul van de Wiel, CEO and co-founder of InnoSIGN told the press. “This funding round will enable us to demonstrate the added value of OncoSIGNal compared to standard technologies for the better understanding of cell behavior, which is highly relevant to physicians when selecting the optimal personalized therapy for cancer patients.”
 
“As the limitations of DNA sequencing and protein analysis have become clear during the last years, we believe InnoSIGN’s proprietary mRNA-based signaling pathway tests, database with pathway activity profiles, and advanced analytics software will drive the next breakthroughs in precision medicine, initially in oncology, and then in other autoimmune and infectious disease,” said Allan May, chair of Life Science Angels and investor.