Rhode Island Inno: Medley Genomics took home the top prize of $50,000, which includes $25,000 in cash, at Cox Business’ sixth-annual #GetStartedRI pitch competition last night.
ReliaBra also brought home a prize: $5,000, for winning the Audience Choice award.
“[The prize] will help us continue on with the work we’re doing here and making a difference,” Medley Genomics founder Patrice Milos told Rhode Island Inno.
Milos’ startup is looking to make cancer a chronic illness as opposed to a terminal disease by taking a closer look at the “molecular fingerprints” of a patient’s cancer, therefore providing a more specific and customized treatment plan. Last year, the company received a $50,000 Innovation Voucher to continue its work with Rhode Island Hospital and was named one of Rhode Island Inno’s 50 on Fire winners. In 2018, it was also named one of the state’s Coolest Companies.
Providence Business News: Medley Genomics, a data analytics company focused on tumor cells and creating targeted and personalized cancer treatments, won the Get Started Rhode Island Pitch Competition Thursday, taking home the grand prize valued up to $50,000, including $25,000 cash. The company was pitched by Medley Genomics co-founder, president and CEO Patrice Milos. Read More
Providence Business News: The region’s largest food maker and seller, along with a company that builds enclosures to transport wedding cakes, were among the 33 companies that were celebrated in PBN’s seventh annual Fastest Growing & Innovative Companies awards program Tuesday night at the Crowne Plaza Providence-Warwick. Read More
This week on Executive Suite: Noni Thomas López, head of school at The Gordon School; Patrice Milos, president and CEO of Medley Genomics.
Medley Genomics was selected from an applicant base of over 200 start-ups, as one of the nine participants in the Philips HealthWorks Startup Program running in Cambridge MA, focused on Oncology. The program which began in February and runs for 12 weeks has the company engaged in an intensive learning cycle with Philips, providing unparalleled access to experts from across their business and the Cambridge innovation community.
This represents a signature program for Philips which has transitioned to becoming a global health technology leader it has created an outstanding network of experts, healthcare partners, global innovation hubs and a world-class, healthcare-compliant technology platform. As part of their open innovation initiative, they are making these assets available to selected startups via their startup program that is run across the globe in key health technology developmental sites like Cambridge.
From a Medley Genomics perspective Philips’ provides deep knowledge of the molecular information systems required for physician decision making. With the Cambridge Philips HealthWorks Startup Program focused on Oncology: Precision Cancer Care, Medley Genomics has the opportunity to understand the physician/patient facing perspective that Philips offers during the course of the program. This understanding will allow the company to truly envision and build a future where Medley Genomics can truly change the course of cancer care for patients by delivering individualized therapies, optimizing combination therapies and avoiding disease relapse.
The program, based in Cambridge, MA, the site of the future North American headquarters for Philips, continues through May 10th and will culminate in company Pitch presentations to the Philips Leadership and Philips Innovation Partners from across the globe.
Medley Genomics Partners with Lifespan to bring clinicians new ways to identify novel, personalized cancer treatments through advanced analytics able to translate diversity of tumor genomes. Read More
Company Developing Technology to Translate Cancerous Tumor Genomes and Drive Better Therapeutic Decisions
Providence, R.I., January 4, 2017 – The Slater Technology Fund today announced that it has committed $250,000 in seed funding to Medley Genomics, a life sciences startup out of Brown University. The company will use the funding to build partnerships and demonstrate proof of concept with collaborators.
Medley Genomics is the first personalized medicine company founded to use genomic analysis methods to assess the complex genomic heterogeneity found in biological samples. Initially focused in oncology, the company aims to develop a new paradigm in personalized oncology by characterizing and defining genomic heterogeneity in the tumors of individual patients to inform clinical decision-making and improve patient outcomes.
Today, treatment decisions are often directed by the molecular profile of a patient’s tumor, a profile derived from the most frequent molecular alterations identified in the tumor. A fundamental challenge for treatment lies in the underlying heterogeneity of the tumor cells, each driven by unique molecular signatures. Thus, while treatment may have previously held the cancer at bay, rarer cell subpopulations often emerge from the tumor and proliferate, leading to treatment resistance and tumor progression or metastases. Medley's mission is to quantify the genomic heterogeneity and unique cell subpopulations in a tumor and to use this knowledge to inform initial therapeutic decisions, including combination therapies, with the hope of offering significant benefit in patient outcomes.
Medley Genomics is based on technology and software tools developed in the lab of Benjamin Raphael, Ph.D., formerly professor of computer science and director of the Center for Computational Molecular Biology at Brown University and now at Princeton University. The company recently attracted a high-profile CEO, Patrice Milos, Ph.D., a pioneer in the fields of genomics and medicine. Milos previously served as CEO of Claritas Genomics, executive at Pfizer, and senior vice president at Helicos BioSciences. Other Medley Genomics founding team members include Barrett Bready, MD, co-founder and CEO of Providence-based Nabsys, a developer of a genome mapping platform, and Katherine Gordon, Ph.D., the managing director of the Technology Ventures Office at Brown University.
“We are excited to support this promising new startup out of Brown University,” said Richard G. Horan, senior managing director of the Slater Technology Fund. “Medley’s founders have deep, first-hand understanding of leading genomic analysis technologies and detailed knowledge of those in development, along with leading-edge software for evaluating and quantitating genomic heterogeneity. They are targeting a problem that has become the latest front in the war on cancer, an area where truly meaningful advances are being introduced into clinical practice.”
About Slater Technology Fund
The Slater Technology Fund is an independently chartered economic development fund that operates in accord with best practices of venture capital investing, backing new ventures committed to basing and building businesses in Rhode Island. Leveraging state and federal funding, Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.
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