A Chicago cancer-fighting startup, CancerIQ is gaining popularity among healthcare systems that are creating new tools for cancer patients. This startup’s software helps healthcare providers know if the patients are suffering from genetic predisposition to certain cancers.
Feyi Olopade, founder of CancerIQ said that physicians can utilize CancerIQ to detect early cancer or treat it before it gets advanced. CancerIQ came to light in 2013 when it competed in UChicago’s New Venture Challenge, but it was fully commercialized only in 2015.
At present, this startup has 30 clients who are private practitioners and large healthcare systems like OSF HealthCare, Adventist Health System and Advocate Healthcare.
“Those are the early adopters that now have two years of really eye-opening data,” Olopade said. “Now, we’re scaling dramatically in the Chicago area.”
CancerIQ has screened above 115,000 patients already, and it currently is elevating venture capital for business expansion. The company revealed that now they have $5 million in VC funding and the investors are Michael Polsky, KGC Capital and Eric Lefkofsky’s Lightbank.
Usually when patients approach doctors, detailed history has to be collected, but CancerIQ makes things easy by providing details even before patients arrive to physician’s office.
“It’s really something that drives value for everyone in the healthcare ecosystem,” Olopade said. She added that the company will help physicians stay up-to-date with the latest technologies and innovations related to genetic and genomic testing and also makes sure that patients get the right treatment at the right time.