Simmunome Closes Pre-Seed Funding Round
MONTREAL, CANADA, April 11 — Montreal-based startup Simmunome has raised $2 million in pre-seed funding to increase the efficiency of clinical trials using artificial intelligence (AI) and machine learning. The funding round, led by Theodorus and the Fonds d’investissement Eurêka, includes participation from BKR Capital, Sandpiper and ACET Capital.
Simmunome, founded by Dr. Murira and Dr. Nakhla, aims to reduce late-stage clinical trial failures by using AI to provide faster insight on human biological response. By integrating AI with our understanding of human biology, Simmunome is set to not only eliminate costly clinical trial failures but also supercharge the overall effectiveness of treatments. This approach takes individual differences into consideration, paving the way for truly personalized healthcare solutions. Armed with a team of experts in molecular biology, bioinformatics, machine learning, and computational neuroscience, Simmunome is uniquely positioned to conquer this challenge and transform the clinical research and development landscape.
Dr. Murira, Simmunome CEO, states, "Majority of the failures in major clinical development programs can be traced back to the complex nature of human biology, especially on the molecular level. Shedding light into this black box using our models enables us to better understand these intricacies and ultimately improve the success rate of future research and treatment development." Simmunome uses AI to create accurate replicas of complex human biological systems enabling simulations of clinical trial outcomes, improved patient stratification, and personalized medicine support.
Today, clinical trials can take 10-15 years and can cost between $2 to $4 billion, a heavy price to pay when the process is unsuccessful. Dr. Nakhla, CTO at Simmunome, explains, "We use machine learning as a tool to fill in the gaps in current knowledge and reduce the time needed to fully untangle biological complexity. " Unlike other AI solutions, Simmunome focuses on the biology instead of the drug molecules – which is the root cause of over 85% of clinical trial failures.”
Théo Risopoulos, principal at Theodorus, says, "We are thrilled to lead the pre-seed round in Simmunome. The team has developed a unique and innovative approach when it comes to evaluating the probability of a drug's efficacy, allowing optimization of target selection at the early discovery phase in the clinical value chain."
“The Fonds d’investissement Eurêka was established to support the commercialization of innovations developed by companies whose intellectual property came out of public research in Québec. Simmunome’s platform is in line with this goal, and we are proud to help support the company as it enters this new phase of development, which will lead to filing patents and commercializing their technology,” said Benoit Leroux, President of the Fonds d’investissement Eurêka.
In the past two years, Simmunome has grown rapidly after joining the NextAI program and completing its minimum viable product (MVP). The company signed its first client in regenerative medicine and expanded its disease models, focusing on oncology, neurodegenerative diseases, and regenerative medicine. They have also partnered with Quebec universities and institutions, such as The Neuro at McGill, University of Laval, and University of Sherbrooke, for development projects.
“What impressed us about the Simmunome team is the bold vision of the founders in creating a product that will be at the heart of the future of health care – a future focused on bringing to market solutions taking into consideration the unique characteristics of individuals without compromising on the potential for commercialisation” says Lise Birikundavyi, the managing partner at BKR Capital.
Dr. Murira highlights the potential impact of Simmunome's approach, saying, "We are excited to be in a position to increase our client base and partner with more biopharmas. Our models have incredible accuracy, and this is just the beginning."
About Simmunome
Simmunome is at the leading edge of leveraging AI to untangle biological complexity. Its platform allows preclinical and clinical data to be inputted, which facilitates the derivation of disease-specific insights and critical go/no-go decisions for R&D researchers. By using multi-omic data to build comprehensive models of disease, Simmunome can simulate biological processes and identify novel drug targets while predicting and improving clinical outcomes. The approach yields highly accurate simulations of biological processes, leading to more faithful representations and predictions. Ultimately, Simmunome's solutions contribute to the de-risking of clinical research, reduction of R&D costs, and acceleration of clinical research and innovation.
To learn more, please visit: www.simmunome.com
About the Fonds d’investissement Eurêka
The Fonds d’investissement Eurêka stimulates the commercialization of innovations resulting from public research in Québec by investing in innovative technology startups. The fund also attracts other investors to companies with intellectual property resulting from public research in Québec at the pre-seed stage. The Fonds d’investissement Eurêka is funded by the Fonds de Développement Économique du Québec and managed by Investissement Québec.
Information : Investissement Québec medias@invest-quebec.com