Corporate Banner
Satellite Banner
Scientific Community
Become a Member | Sign in
Home>News>This Article

NuMedii Receives $3.5M in a Series A Financing

Published: Thursday, June 27, 2013
Last Updated: Thursday, June 27, 2013
Bookmark and Share
Capital will be used to advance internal development programs for clinical testing.

NuMedii, Inc. announced that it has received $3.5M in a Series A funding led by Claremont Creek Ventures and Lightspeed Venture Partners, with participation by Life Science Angels and others. NuMedii raised this initial funding to further develop its proprietary technology and prepare its first three internal drug development programs for clinical testing.

“NuMedii’s drug development approach is extremely capital efficient and is designed to be much more successful in bringing new therapeutics to patients. We are excited to have the backing of investors and advisors who have a track record of successfully establishing life science companies and who support our long term vision for our company,” said NuMedii founder and CEO, Gini Deshpande, Ph.D.

By leveraging vast amounts of life sciences “Big Data” correlating disease information with drug data, NuMedii’s technology predicts which drugs will be most effective in treating a particular disease. NuMedii then translates this information into novel therapeutic candidates. NuMedii’s core technology was invented by its co-founder, Dr. Atul Butte at Stanford University and is exclusively licensed to NuMedii.

NuMedii is also expanding its Board of Directors. In addition to Drs. Deshpande and Butte, the Board will include Ted Driscoll, Ph.D., Brad Webb, Ph.D. and Samuel Saks, MD. Ted is a Venture Partner leading the Digital Healthcare team at Claremont Creek Ventures and will serve as Chairman. Brad is a Venture Partner at Claremont Creek Ventures and Sam is a board-certified oncologist and founder of Jazz Pharmaceuticals, Inc.

Sam Saks commented, “I have been an advisor to NuMedii since 2011 and believe NuMedii’s technology is an example of the type of innovation that is required to fundamentally address the constant failure plaguing the drug development industry.”

“NuMedii is pioneering 'digital' pharma development, which perfectly fits Claremont Creek Ventures’ focus on investing in early stage companies that are revolutionizing medicine with genetics, data mining and computation,” added Ted Driscoll.

Ravi Mhatre, Partner at Lightspeed Venture Partners, noted that LSVP “is actively investing in disruptive applications of Big Data. NuMedii has the potential to disrupt the drug development process by utilizing life science Big Data.”

NuMedii today also announced the appointment of Craig Webb, Ph.D. as its Chief Scientific Officer. Dr. Webb spent the past thirteen years developing an integrated program in translational medicine as one of the founding scientists at the Van Andel Research Institute in Michigan. His work focused on integrating advances in genomics and computational biology to identify optimal therapies for cancer patients, and identify new uses of existing drugs beyond their approved indication.

“I am delighted to be joining a talented team of dedicated individuals with a collective focus on the efficient discovery and rapid validation of new uses of existing drugs. The NuMedii approach represents the most time and cost effective means through which safe and effective medicines can be developed for patients in need,” said Dr. Webb.

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,800+ scientific posters on ePosters
  • More than 4,000+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Scientific News
Editing of LIMS Data Made Faster and More Efficient in Matrix Gemini
The latest version of the Matrix Gemini LIMS (Laboratory Information Management System) from Autoscribe Informatics now provides faster and more efficient editing of LIMS data by eliminating the need for a second editing screen.
Closing the Loop on an HIV Escape Mechanism
Research team finds that protein motions regulate virus infectivity.
World’s First Therapeutic Venom Database
Open-source library describes nearly 43,000 effects on the human body.
Mathematical Model Forecasts the Path of Breast Cancer
Chances of survival depend on which organs breast cancer tumors colonize first.
The Secret Behind the Power of Bacterial Sex
Migration between different communities of bacteria is the key to the type of gene transfer that can lead to the spread of traits such as antibiotic resistance, according to researchers at Oxford University.
Biomedical Imaging at One-Thousandth the Cost
Mathematical modeling enables $100 depth sensor to approximate the measurements of a $100,000 piece of lab equipment.
University of Glasgow Researchers Make An Impact in 60 Seconds
Early-career researchers were invited to submit an engaging, dynamic and compelling 60 second video illuminating an aspect of their research.
On Top of the Flu
Chance for advance warning in search-based tracking method.
TGAC Announces Milestone in Wheat Research
A more complete and accurate wheat genome assembly is being made available to researchers, by The Genome Analysis Centre (TGAC) on 12 November 2015.
Shedding Light on “Dark” Cellular Receptors
UNC and UCSF labs create a new research tool to find homes for two orphan cell-surface receptors, a crucial step toward finding better therapeutics and causes of drug side effects.
Scroll Up
Scroll Down

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos