DURHAM, NC—Proventys Inc., a personalized medicine knowledge service provider, has secured $5.65M in Series A1 financing. Life sciences-focused venture capital firm Burrill & Company led the investment in Proventys. Timothy Thompson, formerly managing director of business development at Aetna, joined the company as president and CEO.
Thompson is a seasoned and successful healthcare executive with both Fortune 500 and start-up company experience.
Thompson first joined Aetna in 2002 when he launched a new informatics business unit for the company. Prior to his stint at Aetna, he was chief operating officer and vice president of business development at PHT Corporation, an early stage, venture-funded mobile data capture and clinical trial software company.
“Personalized medicine has the potential for transforming the healthcare industry by having an impact on such critical issues as chronic disease management and prevention,” said Steve Burrill, CEO of Burrill & Company.
“Before the promise of personalized medicine can be realized, however, the right set of technologies needs to be in place. By focusing on IT solutions that can bring personalized medicine to the point of care, Proventys is favorably positioned to play a key role in this evolution.”
In addition to completing its successful funding round, Proventys forged a strategic partnership with McKesson, a healthcare information technology company. Under terms of the agreement, McKesson will incorporate Proventys’ cutting-edge, risk prediction modules into its clinical decision support solutions.
Marc Owen, McKesson’s executive vice president of corporate strategy and business development, will become a member of Proventys’ board of directors. He will be joining a group of industry leaders including Ralph Snyderman, M.D., chancellor emeritus of Duke University, David Lawrence, former president and CEO of Kaiser Permanente, and G. Steven Burrill, CEO of Burrill & Company.
The company is focused on delivering cutting-edge risk prediction technology to power personalized clinical decisions at the point of care.
Through its proprietary risk assessment architecture, the company is able to harness the power of clinical data along with emerging diagnostic tests, including biomarkers from the fields of genomics, proteomics, and metabolomics, to power personalized medicine at the point of care.
On the Web: www.prventys.com
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