Health IT, Startups

Big data startup gets funding for cancer-based personalized medicine platform

A big data cancer platform that helps docs with reimbursement issues and the business end […]

A big data cancer platform that helps docs with reimbursement issues and the business end of personalized medicine has received a new cash infusion.

New Jersey-based startup COTA, shortened from Cancer Outcomes Tracking & Analysis, closed a $3.7 million Series A tranche from Horizon Healthcare Services for its platform that delivers clinical data and cost analysis for cancer care. It plans to use the cash to hire biostatisticians, outcome analysts, data support and sales and marketing personnel to launch its first commercial product. COTA hopes to raise $7 million total in the round, it said in a statement.

The company’s software helps categorize and sort molecular genetic data, and presents relevant info up front for doctors to, say, avoid chemotherapy in patients who would not benefit from it. COTA’s platform is built with contributions from more than 100 oncologists , along with cancer biostatisticians and healthcare reimbursement folk.

“We’re thrilled to introduce the first big data platform to make value-based care a reality,” COTA founder Andrew Pecora said in a statement, adding that it plans to “provide doctors with access to real-time clinical and financial data, helping oncologists improve patient care while appropriately managing costs.”

 

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