NEW YORK – BostonGene announced on Wednesday that it has completed a $150 million Series B funding round led by NEC Corporation, with participation from Impact Investment Capital and Japan Industrial Partners.
The firm will use the funding to scale up its growth, engage in clinical and research partnerships, and continue its international expansion. Part of this expansion will involve a planned joint venture between BostonGene and NEC to make products such as the Tumor Portrait test available in Japan and other Asian countries.
The Tumor Portrait tests combine AI-enabled genetic testing, gene signatures, tumor mutational burden, PD-L1 RNA expression plus PD-L1 immunohistochemistry, and more recently, tumor microenvironment subtyping into a single assay. It is intended to discover correlations between tumor genomics, a patient's immune system, and the effectiveness of available approved and investigational cancer treatments.
"Many academic and community oncologists across the United States have already adopted BostonGene's Molecular Portrait Test to improve their patients' quality of care," Takayuki Morita, president and CEO of NEC, said in a statement. "NEC recently launched a healthcare and life science business unit that utilizes AI and other digital technologies as a key initiative within our 2025 midterm management plan."
"This capital positions us well to execute on our vision to enable personalized treatment of cancer patients based on integrated molecular profiles of the tumor, tumor microenvironment, and host immunity," said Andrew Feinberg, president and CEO of BostonGene.