The company will use the funding to open its first commercial lab in Florida

January 13, 2025 09:00 AM Eastern Standard Time

MIAMI–(BUSINESS WIRE)–First Ascent Biomedical, a pioneer in personalized cancer treatment, today announced a $6 million investment from Vidal Duart Enterprises, Inc., with an additional co-investment from Techstars. The funding will accelerate First Ascent Biomedical’s mission to transform medical oncology with highly individualized, prospective treatment planning technologies that improve patient survival.

“The opportunity to transform medical oncology through precision medicine is immense, and First Ascent Biomedical is paving the way to make customized cancer treatment a reality with its drug prediction technologies.”Post this

First Ascent Biomedical’s technology represents a shift from a one-size-fits-all approach to a tailored strategy, offering hope to cancer patients who have exhausted traditional options. The company’s functional precision medicine platform integrates drug testing, DNA/RNA sequencing and AI-guided tumor weakness mapping to test hundreds of FDA-approved drugs against a patient’s unique cancer profile. The platform delivers a highly personalized, actionable plan to a patient’s physician in an average of 10 days. Results show that First Ascent Biomedical’s technology has significantly improved patient outcomes. Patients treated with decisions guided by the platform demonstrated an 83% greater benefit than those treated with the standard of care of a doctor’s choice.

The platform’s technology was developed by Dr. Noah Berlow, co-founder and CTO, and Dr. Diana Azzam, First Ascent Biomedical’s co-founder and scientific advisor. Dr. Berlow designed the company’s AI framework. Dr. Azzan brings years of cancer research and a wealth of functional precision medicine expertise to First Ascent Biomedical, currently serving as an assistant professor of environmental health sciences at the Florida International University Robert Stempel College of Public Health and Social Work.

The capital raised will support the expansion of First Ascent Biomedical’s operations, including the establishment of a state-of-the-art lab in Florida, where the company will continue its mission to transform cancer care for all patients, especially those in underserved communities.

“The funding we have raised is a defining moment for First Ascent Biomedical and for cancer care,” said Jim Foote, Co-founder and CEO of First Ascent Biomedical. “As someone who tragically lost my son to cancer, I know the devastating toll this disease takes on families. With this fresh capital, we are not just advancing technology—we are giving patients and their families hope. Florida is where our technology was invented, so we are excited to open our first commercial lab here as we charge forward in making personalized cancer care widely accessible.”

“First Ascent Biomedical is at the forefront of a new era in cancer treatment. Their groundbreaking technology has already proven its potential to save lives and change the trajectory of this disease,” said Carlos Duart, Owner of Vidal Duart Enterprises. “This investment is not just a business decision—it’s a commitment to improving outcomes for cancer patients everywhere.”

Tina Vidal Duart, Co-owner of Vidal Duart Enterprises, added: “We are proud to support a company that combines innovation with compassion. The work First Ascent Biomedical is doing will have a ripple effect far beyond Florida, giving patients personalized care that improves their chances of survival. We are honored to help bring this vision to life.”

“First Ascent Biomedical represents the future of cancer care, where innovation and personalization come together to save lives,” said Andrew Cleland, Chief Investment Officer at Techstars. “The opportunity to transform medical oncology through precision medicine is immense, and First Ascent Biomedical is paving the way to make customized cancer treatment a reality with its drug prediction technologies.”

About First Ascent Biomedical

First Ascent Biomedical is a leader in Functional Precision Medicine, leveraging advanced technologies to personalize cancer treatment. With roots in Florida and a commitment to improving patient outcomes, the company’s platform has been shown to significantly outperform standard care, offering a new frontier in oncology.

About Vidal Duart Enterprises, Inc.

Vidal Duart Enterprises is a private investment firm dedicated to empowering transformative ventures. Led by Carlos and Tina Vidal Duart, the firm focuses on supporting groundbreaking innovations that create lasting social and economic impact.

About Techstars

Techstars helps founders succeed. Through our global accelerators, we invest in early-stage startups led by founders building a better future for everyone. We leverage our vast network of alumni, mentors, partners and investors to support entrepreneurs and build thriving startup communities. Since 2006, we have invested in industry-defining companies including Chainalysis, Zipline, DataRobot, Alloy and many, many more. www.techstars.com

Contacts

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