The Oxford startup raised the capital from Microsoft's venture fund and Mayfield following its success in the Female Founders Competition.
"We are so excited to name iLoF a winner of the Female Founders Competition and invest $1 million alongside Mayfield. iLoF’s technology promises to create effective treatments tailored for the individual, which will change healthcare trajectories for millions of people living with complex disorders. Their mission is humbling, and we are thrilled to support this company with our investment and as a board observer."
The seed round was led by Meltwind and Start Codon to accelerate in vivo proof-of-concept studies.
"Incorporation of our technology into ADC products will accelerate and energise the important transition away from the 'one size fits all' approach currently being pursued in ADC development, resulting in novel products with a competitive and differentiated profile. The platform has the power to unlock the development of a new generation of powerful and well-tolerated drugs, which have been so far inaccessible to many cancer patients."
Par Equity led the Series A round to support technology development and commercial expansion.
"We are delighted to continue working with Par Equity who have been very supportive of our company and our vision. This investment will enable us to continue to develop and commercialise our cutting-edge technology that addresses a major unmet need in the development of novel therapies that can significantly reduce costs of care and improve patient outcomes for millions of people worldwide."
The healthcare artificial intelligence startup raised the capital from backers including MMC Ventures, Seedcamp, and Bayer G4A to scale operations globally.
"The inability of today's computers to understand doctors' unique way of writing has been a major issue. Doctors can correctly describe an 'infiltrating mass' without writing the word 'tumor' or write 'bilateral ground glass peripheral opacity' without explicitly indicating a suspicion for COVID-19"
