Atlanta biotechnology startup Intellimedix has received a “significant investment” from Chris Klaus, founder and former CTO of Internet Security Systems (ISS). The funds will be used to advance product development efforts on the way to a $5 million Series A round planned for later this year. Financial details were not disclosed.
Founded in 2012 by real estate developer Jim Jacoby and management consultant Daniel Fischer, Intellimedix is an early entrant into the emerging “personalized medicine” field. The Atlanta startup describes itself as a “Big Data molecular profiling company,” that uses sophisticated algorithms to match patients with FDA-approved drugs based on the patient’s exome. Though a relatively small component of the human genome, the exome is thought to contain 85 percent of all disease-associated mutations.
Intellimedix is also capable of finding new uses for existing drugs. In doing so, the Atlanta Business Chronicle notes, the startup could potentially help cut down on the amount of time required to begin Phase II clinical trials, a process that normally takes years and millions of dollars to complete.
Klaus, who sold ISS to IBM for $1.6 billion in 2006, is said to have a strong interest in the intersection of technology and neuroscience. Last year, he backed the development of NeuroLaunch, an accelerator program for neuroscience startups; Intellimedix was a member of NeuroLaunch’s first cohort, which graduated earlier this month.
“As a technology pioneer in the field of personalized medicine, Intellimedix is poised to make significant discoveries that change both the pharmaceutical industry and, more importantly, patients’ lives,” Klaus said in a press release. “I am very impressed by what this company is doing and am proud to support its mission. I look forward to being a part of its long-term success.”
In addition to its headquarters in Atlanta, Intellimedix operates a research lab in Cambridge, Mass. and has partnerships with Pfizer, Georgia Tech, Beijing Genomics Institute, Epilepsy Foundation, the Massachusetts Institute of Technology (MIT) and Emory University. Intellimedix licensed its technology from Georgia Tech and MIT and currently employs a team of 20.
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