Cancer Detection Firm Prenuvo Lands $70 Million

REDWOOD CITY &&num;8212&semi; Prenuvo, a provider of advanced, radiation-free whole body imaging for early detection of cancer and other diseases, has raised &dollar;70 million in Series A equity and debt funding led by Felicis, with participation from existing investors including Tony Fadell, NYT bestseller author and founder of Nest&semi; Dr&period; Timothy A&period; Springer, Lasker award recipient&semi; Anne Wojcicki, CEO of 23&Me&semi; Steel Perlot, with Eric Schmidt as chairman&semi; entrepreneur Rande Gerber&semi; and wellness investor, supermodel, and actress, Cindy Crawford&period; The funding will be used to invest in the company’s artificial intelligence (AI) team, new radiology tools, custom advanced MRI builds, and national expansion&period;&NewLine;With Prenuvo, people and their doctors can reveal health problems early, if there are any, and gain peace of mind, if there are not&period; The company offers radiation-free, full-body MRI scans that are faster, less costly, and more intelligent than traditional methods, which can be prohibitively expensive and take three to four hours to complete&period; Using cutting-edge software and proprietary AI technology, a single Prenuvo scan covers 26 regions and organs of the body in under one hour&period; With high clinical diagnostic quality, 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;&NewLine;The company says it has grown in revenue by 240&percnt; year-over-year and is scaling quickly, with seven current clinics – including newly opened Santa Monica and Boca Raton locations – and plans to launch additional locations over the next year, in cities including New York City, Chicago, Boston, and Bethesda&period;&NewLine;&OpenCurlyDoubleQuote;The current healthcare system is reactive&period; For many, health information comes too late, once a disease or condition has progressed, has symptoms, and is more difficult and expensive to treat,” said Andrew Lacy, 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;”&NewLine;Research by Healthy People, a federal program administered by the Department of Health and Human Services (HHS), found that preventive health screenings and primary care consultations can significantly increase life expectancy, particularly among the 30-to 49-year age group, 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;&NewLine;&OpenCurlyDoubleQuote;The typical physical hasn’t evolved in decades and lacks predictive power&period; Prenuvo gives patients unparalleled clarity and control,” added Dr&period; Raj Attariwala, co-founder and radiologist at Prenuvo&period; &OpenCurlyDoubleQuote;Not only can patients make better-informed decisions about their health, 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;”&NewLine;Prenuvo clinics redefine the imaging experience&period; Scans are spacious and allow patients to relax, 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;&NewLine;

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