AUSTIN, TX – UT Horizon Fund, the strategic venture fund of the University of Texas System, has made a $593,000 Series A preferred stock investment in MolecularMatch.Based in Houston, MolecularMatch is a personalized medicine company that employs an advanced algorithm to match the molecular makeup of each patient against documented results of thousands of patients from around the globe.
With total investments now at $3.7 million, MolecularMatch will use its initial funding to support the development of the company’s first commercial product – a web-based service free for patients and physicians to easily identify and navigate oncology treatment options and clinical trial recommendations for improved outcomes.“We are now at a turning point in the way we diagnose and treat disease,” says James Welsh,MD, principal founder and chief medical officer of MolecularMatch and a physician and investigator at MD Anderson Cancer Center.
“We are now able to take samples of a patient’s tumor, test them at a low cost and find a unique genetic signature. This genetic signature will help us better treat the patient, not just the disease.”The Series A funding round was led by Jack Gill, PhD and Nancy Chang, PhD, of the Goose Group, Rice University and UT System. Dr. Jack Gill will serve as Chairman of the Board and Kevin Coker, former vice president of US Oncology Research, will serve as Chief Executive Officer.