NEW YORK – Spatial biology company Nucleai has closed a $33 million Series B financing round led jointly by Section 32 and Sanofi Ventures, the firm announced on Tuesday.
Nucleai plans to use the new financing to advance its spatial analysis platform and expand its commercial footprint across biopharmaceutical companies and contract research organizations.
The company's platform helps predict patient response to various cancer therapies by analyzing large datasets of tissue images to model spatial characteristics of tumors and patient immune systems. The technology is used in drug development, in clinical treatment decisions, and for both retrospective and prospective patient stratification analysis in clinical trials.
Along with this round's investments, which bring Nucleai's total financing to close to $50 million, Section 32 Managing Partner Andy Harrison and Sanofi Ventures Global Head of Digital Investments Cris De Luca will join Nucleai's board of directors, with Section 32 Managing Partner Michael Pellini joining as an observer.
Other existing investors in the firm, including Debiopharm, Fosun RZ Capital, Vertex Ventures, and Grove Ventures, also participated in the round of financing.
"Mapping biological microenvironments with spatial mapping technology is an exciting area of discovery that is paving the way for innovative new therapies and diagnostic tools," Harrison said in a statement. "Nucleai has built a platform that makes spatial analysis scalable and operational, enabling the next generation of actionable insights from massive pathology data sets that have not been analyzed to their fullest potential and could provide significant value to pharmaceutical companies and diagnostic labs."
Nucleai raised $6.5 million in a Series A financing round in 2020.