Promise Bio
Overview
Promise Bio is an innovative biotechnology company founded in January 2023 and based in Tel Aviv, Israel. The company, co-founded by Ronel Veksler and Assaf Kacen, focuses on precision medicine solutions for autoimmune diseases. Utilizing advanced technologies like epiproteomics and artificial intelligence, Promise Bio has successfully raised $8.3 million in seed funding. This funding, led by Awz Ventures and supported by AstraZeneca, Pfizer, and a grant from the Israel Innovation Authority, is intended to develop its platform further for transforming the therapeutic landscape of immune-mediated diseases.
Recent Developments
- December 16, 2024: Promise Bio raised $8.3 million in seed funding. This round was led by Awz Ventures and included participation from major pharmaceutical companies like AstraZeneca and Pfizer, as well as a grant from the Israel Innovation Authority. The funds are being used to enhance Promise Bio’s computational platform for drug research and to broaden its potential applications in immune-mediated disease treatment.
- October 23, 2024: Promise Bio came out of stealth mode backed by significant partnerships with AstraZeneca and Pfizer. These partnerships enabled Promise Bio to integrate its proprietary platform into broader drug development pipelines, positioning it as a significant player in the precision medicine landscape.
- Research Collaborations: Promise Bio is in collaboration with multiple large hospitals in the U.S. and Israel. The company's unique approach combines epiproteomics and artificial intelligence to offer precision medicine solutions, addressing gaps left by traditional therapeutic methods in treating autoimmune diseases.
- Platform Advancements: The company's platform, known as the Protein Modification Integrated Search Engine (PROMISE), allows for broad-scale post-translational modification profiling. This innovation provides a detailed understanding of protein changes due to disease, simplifying treatment options for conditions with complex immune responses.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | January 2023 |
| Headquarters | Tel Aviv, Israel |
| Founders | Ronel Veksler, Assaf Kacen |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Awz Ventures, AstraZeneca, Pfizer |
| Industry | Biotechnology/Precision Medicine |
| Number of Employees | 10 |
Early History
Promise Bio was established in 2023 by Ronel Veksler, an experienced physician with a passion for computational biology, and Assaf Kacen, a researcher trained in the lab of Prof. Yifat Merbl at the Weizmann Institute of Science. The idea germinated from Veksler's background in medicine and bioengineering and his connection with Merbl, who was looking to commercialize her groundbreaking research on protein modifications. The confluence of expertise and opportunity led to the formal creation of Promise Bio, with an aim to revolutionize the precision medicine approach in treating complex autoimmune diseases.
Company Profile and Achievements
Promise Bio has quickly emerged as a leader in the precision medicine field, particularly in managing immune-mediated diseases. The company’s core technology leverages epiproteomics and artificial intelligence, enabling the prediction of patient responses to treatments. Significant achievements include:
- Innovative Platform Development: The PROMISE platform allows for the analysis of protein modifications using mass-spectrometry data without additional lab procedures. This technology advances the precision understanding of disease pathology and assists in tailoring patient-specific treatment plans.
- Research and Collaboration: Under the leadership of CEO Ronel Veksler and CTO Assaf Kacen, Promise Bio has collaborated with leading hospitals and pharmaceutical companies to integrate its platform, enhancing drug development pipelines.
- Funding Milestones: The company secured $8.3 million in seed funding, facilitating rapid expansion and platform development. Strategic partnerships with AstraZeneca and Pfizer underscore the trust and potential seen in Promise Bio's technological capabilities.
Current Operations and Market Position
Promise Bio continues to refine its precision medicine platform, focusing extensively on autoimmune diseases. By integrating AI with epiproteomics, the company distinguishes itself with its capability to analyze various post-translational modifications from standard blood samples. The market position of Promise Bio is strengthened by its strategic partnerships and the continued investment from notable industry players. The company’s technology positions it advantageously within the biotech industry, addressing significant unmet needs in personalized medicine.
Conclusion
Promise Bio is poised as a significant innovator within the precision medicine landscape, particularly in applications for autoimmune diseases. By merging advanced computation with biological insights, it is set to redefine therapeutic interventions and patient care protocols. With robust backing from leading investors and strategic partnerships, the company is well-positioned to expand its influence and continue pioneering new solutions that could transform healthcare delivery in immunology and beyond.