Cancer Detection Firm Prenuvo Lands $70 Million

<p><strong>REDWOOD CITY<&sol;strong> &&num;8212&semi; Prenuvo&comma; a provider of advanced&comma; radiation-free whole body imaging for early detection of cancer and other diseases&comma; has raised &dollar;70 million in Series A equity and debt funding led by Felicis&comma; with participation from existing investors including Tony Fadell&comma; NYT bestseller author and founder of Nest&semi; Dr&period; Timothy A&period; Springer&comma; Lasker award recipient&semi; Anne Wojcicki&comma; CEO of 23&Me&semi; Steel Perlot&comma; with Eric Schmidt as chairman&semi; entrepreneur Rande Gerber&semi; and wellness investor&comma; supermodel&comma; and actress&comma; Cindy Crawford&period; The funding will be used to invest in the company’s artificial intelligence &lpar;AI&rpar; team&comma; new radiology tools&comma; custom advanced MRI builds&comma; and national expansion&period;<&sol;p>&NewLine;<p>With Prenuvo&comma; people and their doctors can reveal health problems early&comma; if there are any&comma; and gain peace of mind&comma; if there are not&period; The company offers radiation-free&comma; full-body MRI scans that are faster&comma; less costly&comma; and more intelligent than traditional methods&comma; which can be prohibitively expensive and take three to four hours to complete&period; Using cutting-edge software and proprietary AI technology&comma; a single Prenuvo scan covers 26 regions and organs of the body in under one hour&period; With high clinical diagnostic quality&comma; it can screen for and diagnose more than 500 conditions – including most solid tumors at Stage 1 – at a fraction of the cost of traditional MRI screenings&period;<&sol;p>&NewLine;<p>The company says it has grown in revenue by 240&percnt; year-over-year and is scaling quickly&comma; with seven current clinics – including newly opened Santa Monica and Boca Raton locations – and plans to launch additional locations over the next year&comma; in cities including New York City&comma; Chicago&comma; Boston&comma; and Bethesda&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The current healthcare system is reactive&period; For many&comma; health information comes too late&comma; once a disease or condition has progressed&comma; has symptoms&comma; and is more difficult and expensive to treat&comma;” said Andrew Lacy&comma; founder and CEO of Prenuvo&period; &OpenCurlyDoubleQuote;Our series A financing is validation of Prenuvo’s mission to catch conditions before they become crises and transform the healthcare approach as we know it to one that is rooted in proactive health&period;”<&sol;p>&NewLine;<p>Research by Healthy People&comma; a federal program administered by the Department of Health and Human Services &lpar;HHS&rpar;&comma; found that preventive health screenings and primary care consultations can significantly increase life expectancy&comma; particularly among the 30-to 49-year age group&comma; yet only 8&percnt; of U&period;S&period; adults receive appropriate preventive healthcare services each year&period; Incorporating whole-body MRI scans into the healthcare routine could help provide a comprehensive baseline health profile to monitor changes over time&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The typical physical hasn’t evolved in decades and lacks predictive power&period; Prenuvo gives patients unparalleled clarity and control&comma;” added Dr&period; Raj Attariwala&comma; co-founder and radiologist at Prenuvo&period; &OpenCurlyDoubleQuote;Not only can patients make better-informed decisions about their health&comma; but doctors can also make more accurate treatment or monitoring plans with technology that can measure changes that are simply invisible to the naked eye&period; We’re making powerful health insights more readily available to anyone at any time&period;”<&sol;p>&NewLine;<p>Prenuvo clinics redefine the imaging experience&period; Scans are spacious and allow patients to relax&comma; watch a show on flatscreen TVs or listen to music for the duration&period; Trained radiologists read the images and results are delivered to patients and their doctors – along with next steps – through the user-friendly Prenuvo web and mobile app&period;<&sol;p>&NewLine;

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