On October 7, 2020, Phenomic AI completed its US$6 million financing round, bringing the company’s total funding to US$8 million. The seed round was led by CTI Life Sciences Fund and included AV8 Ventures, Luminous Ventures and Viva BioInnovator. The funding will be used to support preclinical studies for two cancer drug targets that were discovered using Phenomic AI’s platform. The funding will also be used to discover and advance additional drug targets into Phenomic AI’s pipeline.
Phenomic AI is a Toronto based biotech firm specializing in targeting disease micro-environments in cancer and fibrosis. Phenomic AI uses artificial intelligence and machine learning to screen targets in complex models and map them back to human biology, revealing clinical therapies. The company’s platform seeks to bring innovative and new medicines against the most challenging diseases.
Osler, Hoskin & Harcourt LLP advised Phenomic AI with a team consisting of Chad Bayne, Michael Grantmyre, Alana McElhinney and Theresa Donkor (Emerging and High Growth Companies).