C2i Genomics was founded in 2019 at a time when the global cancer diagnostics market was experiencing significant growth. With the market valued at USD 150.8 billion in 2018 and projected to reach USD 249.6 billion by 2026, the demand for advanced technologies that could improve diagnostic accuracy and personalized treatment options was undoubtedly enormous.
In parallel, the global healthcare AI market progressed in leaps and bounds, with a projected growth rate of 41.5% from 2019 to 2025. These favorable market conditions provided a strong foundation for C2i Genomics to develop its innovative cancer diagnostics platform that uses AI to analyze cancer images and provide highly accurate diagnoses.
C2i Genomics’s groundbreaking approach to cancer diagnostics through AI and machine learning technology is not only changing the way we diagnose cancer but also has strong potential to save lives, making it a compelling and exciting development in the healthcare industry.
Diagnosis Accuracy That Matters to C2i & Humanity!
C2i was founded by three co-founders: Asaf Zviran, Ezra Sofer, and Boris Oklander. Asaf Zviran is a former executive at the Israeli Defense Forces and an expert in artificial intelligence (AI), Ezra Sofer has a background in software development, and Boris Oklander has extensive experience in business development.
Together, they shared a vision to leverage their expertise in technology and healthcare to improve cancer diagnosis and treatment outcomes. They set out to create a platform that would deploy AI algorithms to analyze cancer images and provide highly accurate diagnoses, while also assisting pathologists and radiologists in their work.
“After my personal encounter with cancer several years ago, and my father’s cancer experience, I felt there was a lack of information to inform treatment decisions,” Zviran recalled. He knew the AI technology had evolved to the point where it could be adapted for healthcare.
The founders of C2i were driven by a desire to make a positive impact on people’s lives. Their passion for using technology to improve healthcare, combined with their deep expertise in AI, software development, and business development, led them to start C2i and develop their innovative cancer diagnostics platform.
“I founded C2i to help patients and physicians navigate the complicated cancer treatment process with better intelligence,” Zviran said. “I am beyond grateful for the backing of this incredible list of investors to help give cancer patients the precision and certainty they expect and deserve.”
C2i Genomics is focused on solving the problem of inaccurate and inefficient cancer diagnosis, which is a major challenge in the healthcare industry.
Inaccurate cancer diagnosis is a significant problem in the healthcare industry, as it can lead to delays in treatment, inappropriate treatment plans, and higher healthcare costs. According to a report by the National Academy of Medicine, diagnostic errors account for approximately 10% of patient deaths, making it the third leading cause of death in the United States.
In addition, the American Cancer Society estimates that there were an estimated 1.96 million new cancer cases diagnosed in the United States in 2021, highlighting the urgent need for more accurate and efficient cancer diagnostics tools.
Asaf Zviran stated: “The current methods of cancer diagnosis, such as histopathology and imaging, have limitations in terms of accuracy and speed. Our platform uses advanced AI algorithms to analyze cancer images and provide highly accurate diagnoses, which has the potential to revolutionize cancer diagnostics and improve patient outcomes.”.
In a study published in the Journal of Clinical Oncology Precision Oncology in 2021, C2i’s AI platform was shown to accurately identify patients with residual disease after treatment with a sensitivity of 94% and a specificity of 90%. The study evaluated the platform’s performance in detecting residual disease in patients with colorectal cancer and found that the platform was highly accurate in identifying patients with residual disease.
Similarly, in another study published in the Journal of Clinical Oncology Precision Oncology in 2020, C2i ‘s platform was shown to accurately detect circulating tumor DNA (ctDNA) in patients with lung cancer, with a sensitivity of 100% and a specificity of 98%.
The study evaluated the platform’s performance in detecting ctDNA in blood samples from patients with lung cancer and found that the platform was highly accurate in identifying patients with ctDNA.
As the study’s authors highlighted, “We demonstrate that C2i’s AI platform, trained on whole-genome sequencing data, can accurately identify patients with residual disease after neoadjuvant therapy for colorectal cancer. The high sensitivity and specificity of the platform suggests that it can be used as an adjunct to standard imaging for detecting residual disease”.
Additionally, the company’s adoption of advanced AI and machine learning technology allows the platform to continuously learn and improve its performance, making it a highly competitive tool in cancer diagnostics.
Speaking of it, Dr. Michael Feldman, Professor and Vice Chair for Precision Medicine and Healthcare Informatics at the University of Pennsylvania, shared: “C2i’s cutting-edge technology can help overcome some of the current limitations in cancer diagnosis and treatment, potentially improving patient outcomes and enabling personalized treatment options.”
Advanced Technology and Pharmaceutical Partnerships: A Match Made in Heaven
Remarkably, C2i has raised significant funding to support the development and commercialization of its innovative cancer diagnostics platform.
In September 2021, the company announced that it had raised $100 million in a Series B funding round, led by BlackRock and Perceptive Advisors, with participation from other investors including Fidelity Management & Research Company LLC, Casdin Capital, and Alexandria Venture Investments.
“We are thrilled to partner with these prestigious investors who share our vision for improving cancer diagnosis accuracy and speed. This funding round will enable us to further advance our technology and expand our commercialization efforts,” stated Asaf Zviran.
Prior to this, C2i Genomics had raised $12 million in a Series A funding round in December 2020, led by Casdin Capital. The company’s funding status suggests that its platform has attracted the attention of investors and has strong potential for commercial success.
“We believe that the improvement in sensitivity we’ve achieved will allow physicians to quantitatively monitor their patient treatment response and detect treatment failure or disease recurrence months and even years before they would do otherwise,” proudly shared C2i Genomics’s co-founder. “We have built C2i on a solid scientific and technological foundation and are excited to work with our investors and other partners toward the deployment of our cloud-based platform for disease management.”
Commenting on the technology side, Eli Casdin, Founder and Chief Investment Officer of Casdin Capital, emphasized, “C2i Genomics is at the forefront of utilizing AI to revolutionize the way we diagnose and treat cancer. We are excited to support the company as it continues to advance its innovative platform.”
In addition to deploying state-of-the-art health-tech breakthroughs, C2i has established partnerships with other companies and research institutions to advance its technology and expand its reach. For example, the company announced a partnership with LabCorp in August 2021 to develop and commercialize a liquid biopsy test for cancer patients, based on C2i’s AI platform.
The liquid biopsy test has the potential to greatly improve cancer diagnosis and treatment by providing a non-invasive way to detect and monitor cancer. Liquid biopsy tests use blood samples to detect circulating tumor DNA (ctDNA), which can indicate the presence of cancer in the body.
By using AI platform to analyze these blood samples, the liquid biopsy test can provide highly accurate diagnoses, which can help guide treatment decisions and improve patient outcomes.
This collaboration enables C2i to leverage the extensive expertise and resources of LabCorp, which will assist in bringing their innovative cancer diagnostics platform to more people in need.
Besides, the company has partnered with the Weizmann Institute of Science, a world-renowned research institution in Israel, to develop its platform. The Weizmann Institute of Science has expertise in genomics and computational biology, which has been instrumental in the development of C2i Genomics ‘s AI platform.
Asaf Zviran commented, “This collaboration will enable us to leverage the latest advancements in genomics and machine learning to improve cancer diagnosis and treatment outcomes.”
Furthermore, the company has partnered with other prestigious research institutions, including the Broad Institute of MIT and Harvard and the MD Anderson Cancer Center
Ezra Sofer, co-founder and CTO of C2i, stated, “We are honored to collaborate with MD Anderson, one of the world’s leading cancer centers. This partnership will enable us to continue innovating and developing new solutions for cancer diagnosis and treatment, ultimately improving patient outcomes.”
By working with these institutions, C2i is able to stay at the forefront of the latest advancements in cancer research and diagnostics and continue developing innovative solutions for cancer diagnosis and treatment.
Local Collaborations and Adaptation: Brilliant Moves for Winning Global Expansion Strategy
C2i Genomics’s approach to expanding its reach and global operations smartly focuses on the collaboration and adaptation to local markets. The company’s strategy of training personnel in diagnostic labs throughout the world and providing validation of their tests based on known samples from C2i’s own labs enables them to offer their services in various regions while ensuring the accuracy and reliability of their platform.
One example of C2i’s global expansion strategy is its partnership with Miacom Diagnostics in South Korea.
In September 2021, C2i announced a collaboration with Miacom Diagnostics to bring its liquid biopsy tests to South Korea. Under the agreement, Miacom Diagnostics will provide C2i’s liquid biopsy tests to hospitals and clinics throughout South Korea, while also providing local support and customer service.
Asaf Zviran said: “We are thrilled to partner with Miacom Diagnostics to bring our innovative cancer diagnostics platform to more patients in South Korea. This partnership is an important step in our global expansion efforts, and we look forward to working together to improve cancer diagnosis and treatment outcomes.”
He also spoke about the company’s approach in an interview with LabPulse, stating that “everywhere there is a patient, there is a vendor” who can perform the tests and analysis. He did emphasize the importance of collaboration and adaptation to local markets, saying that “our strategy is to go to countries and work with the local vendors, understand the market, and adapt our product to meet the market’s requirements.”
In an interview with MedCity News, Asaf Zviran explained how the company is globalizing while adapting to local markets: “Once validated, they [local labs] can provide a C2i test in their own lab and upload their data to our cloud servers. The (major) cloud vendors have servers throughout the world, so local data can remain on local servers in their home country.”
By partnering with local vendors and utilizing cloud servers, the company can maintain data privacy and comply with local regulations, while still providing high-quality cancer diagnostics services. This strategy also allows the company to adapt to the specific needs and characteristics of each market they enter, which is crucial for success in the healthcare industry.
The company’s operations in multiple countries, including the U.S., Singapore, Denmark, Switzerland, and China, also demonstrate the effectiveness of this strategy in expanding its reach globally.
As of 2022, C2i is experiencing a high point in its journey, having been recognized with the North American Digital Cancer Monitoring Platform Technology Innovation Leadership Award. This award acknowledges C2i ‘s groundbreaking AI-powered platform and its potential to revolutionize cancer diagnosis and treatment.
“C2i’s revolutionary approach to cancer diagnostics has earned it the 2022 North American Digital Cancer Monitoring Platform Technology Innovation Leadership Award. The company’s AI-powered platform has the potential to greatly improve cancer diagnosis and treatment, and we are thrilled to recognize C2i for its innovative contributions to the healthcare industry.” – Shuba Ramkumar, Best Practices Research Analyst at Frost & Sullivan.
In the near future, C2i is working on bringing a new diagnostic product to the market. Zviran isn’t at liberty to share the details but said the company is generating data for U.S. and European submissions. “The next deal,” he hinted, “will have interesting collaborations with pharmaceutical companies to guide clinical trials and treatment.”
As Asaf Zviran stated, “Our ultimate goal is to provide accurate, fast, and cost-effective cancer diagnostics services to patients around the world. We believe that our AI-powered platform has the potential to revolutionize cancer diagnosis and treatment, and we are committed to expanding our reach and improving patient outcomes.”
C2i Genomics ‘s forward-thinking approach to cancer diagnosis and treatment is a game-changer in the healthcare industry. The company’s use of AI technology in cancer diagnostics and its strategy of collaborating with local vendors for global expansion paves the way for future success.