Cancer and other non-communicable diseases are becoming serious challenges to the world’s health and development. 10 million cancer deaths and almost 23.6 million new cancer cases were reported globally in 2019. Cancer is becoming more commonplace, but we shouldn’t accept it. To combat this ever-increasing burden, it is imperative to develop diagnostic tools and practical solutions.
At this point, BostonGene enters the scene. This US-based biotechnology firm carries out studies and clinical trials and has created cutting-edge biomedical software to analyze patients for cancer and assist in recommending the best course of therapy.
Introducing BostonGene
BostonGene Corporation, based in Waltham, Massachusetts, uses biological software for sophisticated patient analysis and patient-specific treatment decision-making in the fight against cancer. A holistic method of treating cancer has been discovered, created, and patented. The company’s technology, which primarily focuses on immune-targeted medicines, informs individual patients on the best therapeutic combination.
Customers from all around the country are served by BostonGene.
BostonGene: Biotechnology Industry
The biotechnology sector is what BostonGene primarily supports. In 2022, the biotechnology market was estimated to be worth $1,224.31 billion globally. At a significant CAGR of 12.8% from 2023 to 2030, it is anticipated to increase to $3,210.71 billion. Growing government initiatives in the biotechnology sector in developing nations like India, China, and Japan are a significant market development driver.
Furthermore, during the Covid-19 pandemic, every nation urgently needed to find cutting-edge treatments, create vaccinations, and create diagnostic methods to combat the illness. Regarding the top-ranked biotechnology firms, some important participants include AstraZeneca, Bristol-Myers Squibb, Gilead Sciences, Inc., Sanofi, and Biogen.
The Founders and Team
Founder: Andrew Feinberg
About Andrew Feinberg
Andrew Feinberg founded the business and also serves as its president and chief executive officer at the moment. He graduated from Bentley University with a bachelor’s degree and The Wharton School with an MBA. He formerly had a consultant position at Bain & Company. In addition, Andrew serves as chairman and CEO of Netcracker Technology.
Team
Chief Medical Officer: Nathan Fowler
Vice President of Product Development: Alexander Bagaev
Vice President of Sales: Brittan McClanahan
The BostonGene team has over 300 members.
The Beginning of BostonGene
Andrew Feinberg established BostonGene in 2015. BostonGene became a market leader in the biotechnology sector under Andrew’s excellent direction. In order to advance cancer research in 2019 and kidney cancer research in 2020, the company partnered with Washington University in St. Louis. BostonGene and Transgene, NEC worked together for clinical trials for patients with ovarian and head and neck cancers in the same year, 2020.
In August 2021, the corporation made the publishing in the Blood Cancer Journal official. And in February 2022, BostonGene increased its testing capability to forecast patients’ responses to immunotherapy.
Later, in January 2023, BostonGene and Tempus granted a license to the MD Anderson EGFR Classification for its role in shedding fresh light on atypical lung cancer mutations. In June 2023, the business said it would introduce its CLIA-certified and CAP-accredited liquid biopsy, spatial proteomics, and immunoprofiling technologies.
Purpose and Aspirations
With its AI-based molecular and immunological profiling, BostonGene seeks to support the shift of healthcare to personalized treatment in order to raise the bar of care, advance research, and boost profitability.
Product and Services
The following services are offered by BostonGene:
BostonGene Liquid Biopsy
BostonGene Spatial Proteomics
BostonGene Immunoprofiling
BostonGene Tumor Portrait Test
Additionally, the business created BioPharma, a division that provides industry applications, services, and laboratory solutions.
Business Model of BostonGene
Medical professionals can learn details about malignant cells and the macroenvironment in which they live thanks to BostonGene’s AI-based molecular and immunological profiling software. This program sequences DNA and RNA using a patented method. The BostonGene Tumor Portrait Test helps identify essential factors influencing each tumor, such as immune microenvironment characteristics, treatable mutations, biomarkers of response to various therapies, and suggested treatments. Upon completion of the analysis, the BostonGene Tumor Test creates a personalized roadmap for each cancer patient’s therapeutic decision-making.
Offering its AI-based molecular and immunological profiling platform to healthcare professionals so they may match specific individuals with the most effective treatments for their medical conditions is how BostonGene generates revenue. Medical practitioners can also use the data to recommend the finest medications, comprehend their possible negative effects, and decide how surgery may affect the regions around the tumour.
Investments and Financing
BostonGene has successfully completed two rounds of fundraising, totaling $200 million. Series B Round, its most recent round of fundraising, was completed on April 6, 2022. Among the investors supporting the business are NEC Corporation, Japan Industrial Partners, and Impact Investment Capital.
BostonGene raised $150 million in a Series B round of funding, making it a unicorn with a multi-billion dollar valuation.
Awards and Achievements
The following are some of the honors BostonGene has received thus far:
- Recognized by Cancer Cell in 2022 for its cutting-edge technology in oncology and cancer research
- Won the Patient Advocacy Group Awards’ GRASP Advocate Choice Award for the 2023 ASCO Annual Meeting Poster.
- Listed by BestStartup.us in 2021 as one of Massachusetts’ Top Genetics and Bioinformatics Startups
FAQ’s
- Who founded BostonGene?
Ans. Andrew Feinberg founded BostonGene in 2015.
- Who are BostonGene’s primary rivals?
Ans. Benchling, Insilico, BioAge Labs, Immuneering Corporation, and Arbutus Biopharma are some of BostonGene’s primary rivals.
- What exactly does BostonGene do?
Ans. In order to help patients fight cancer, BostonGene Corporation uses biological software for sophisticated patient analysis and tailored therapeutic decision-making.
