28th July 2022
Leading digital health company, iLoF, has received $5M in funding to accelerate its mission of democratising access to personalised medicine for millions of people living with complex diseases, such as Alzheimer’s disease.
Previous EIT Health WildCard winners, iLoF, are the creators of an intelligent platform which collects vast amounts of data. The data is used to build a library of biological profiles, bringing together world-class physicists, biologists, and data scientists to deliver life-saving personalised treatments to patients faster.
Using cutting-edge optical lasers, the company first analyses blood samples from patients before using AI-powered technology to create a unique digital molecular profile of a patient. Patients’ digital profiles are then compared to iLoF’s cloud-based library of biological profiles in search of potential matches. Matches ultimately facilitate the development of personalised treatment, which informs patient monitoring, diagnosis and screening plans.
With over $8M in funding to date, iLoF is well-equipped to implement its vision of cutting time and costs of recruiting patients for clinical trials. By helping to remove the barriers to the development of personalised, effective, and life-saving therapeutics, iLoF promises to usher in a new generation of personalised therapies and patient-centric treatment.
Luis Valente, Co-Founder and CEO of iLoF, said, “For hundreds of years, treatments have been developed with the assumption they will work for everyone. However, each person is different, and for many severe diseases such as Alzheimer’s, multiple factors can contribute to the effectiveness of a treatment on a given patient.
“This means millions of patients currently live without access to an effective, disease-modifying treatment – which sparked the vision behind iLoF. We collect vast amounts of data to create digital twins of biological profiles and disease subtypes, which we store in our digital library. Different patient profiles can be selected and screened using our platform to speed up the development of effective and personalized treatments while enabling humane, patient-centric clinical trials.”
Mehak Mumtaz, Co-Founder and COO of iLoF, added, “Our ultimate vision is to go from a next-generation bioinformatics platform to a breakthrough disease screening one. Moving from supporting researchers and scientists to directly helping patients around the world will vastly deepen our understanding of diseases and help physicians detect the world’s more severe and impactful diseases, such as Ovarian Cancer or Alzheimer’s Disease.”
Consisting of 20 international scientists, entrepreneurs, and investors, the widely acclaimed iLoF team was initially formed during the EIT Health WildCard programme in 2019 – which provides world-class mentorship and training to innovators with life-changing ideas to improve healthcare. iLoF has also previously won EIT’s Jumpstarter pre-accelerator programme, which boosts innovation and entrepreneurship within Central-Eastern and Southern-European regions.
Jean Marc Bourez, interim CEO of EIT Health, said, “We are thrilled about the news of iLoF’s well-deserved funding success. The company has come a long way since its inception at the EIT Health WildCard programme in 2019. With its grand vision to improve patient outcomes using pioneering technology, we couldn’t be prouder of our role in nurturing iLoF and we look forward to watching as the company continues to grow and transform the lives of patients living with degenerative diseases such as Alzheimer’s.”
The seed funding will be used to accelerate the development of iLoF, progress further partnerships and scale the team. Currently, the company is hiring internationally across physics, data science, biology, and product management profiles.