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Exclusive: ArteraAI nabs $20M to take personalized cancer care global

Illustration of hundred dollar bills and coins arranged in the shape of a cancer ribbon.

Illustration: Aïda Amer/Axios

ArteraAI, a developer of AI tests to personalize therapy for cancer patients, raised $20 million in additional funding, CEO Andre Esteva tells Axios exclusively.

Why it matters: Rising cancer costs have made personalized treatment modalities and their promise of cost savings more appealing.

Details: Participants included Prosperity7 Ventures, Singapore's EDBI and insiders Walden Catalyst Ventures, Wilson Sonsini Goodrich & Rosati, and Trium Ventures.

  • Plus individuals Navin Chaddha (Mayfield), Rajiv Khemani (AISpace VC), and Andrew & Elliott Tan (A&E Investment). There was no lead investor for the unlabeled round.
  • The Los Altos, Calif.-based company has raised more than $100 million in outside capital, including $90 million in March 2023.

What's next: "We want to be one of the first tests to support cancer personalization in other countries," Esteva says.

  • ArteraAI is targeting Europe and Asia Pacific first, he says.
  • The company's test — currently for prostate cancer — will be further developed to address breast cancer, with the eventual goal of serving all forms of the disease, he says.

How it works: ArteraAI's multimodal AI test — reimbursed by Medicare as of this year — identifies patients who will benefit from intensified therapy, and guides treatment for localized patients.

  • Once ArteraAI receives a sample, the company reports back to the referring oncologist within 2-3 days with treatment guidance.

What they're saying: "The fast and accurate result, now combined with the reimbursement approval — the company is poised to really take off," says Walden Catalyst Ventures managing partner Lip-Bu Tan.

  • "There is a global opportunity here," Tan says.
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