Every year, nearly 2 million people are diagnosed with cancer and approximately 600,000 deaths in the United States are attributed to the disease. It's numbers like these that have entrepreneurs taking action.
Oncology Ventures, a seed-stage venture capital (VC) fund, invests in healthcare startups that make cancer care more affordable, more accessible and more efficient.
And it's not just venture capital firms investing in healthcare and cancer-care startups. Retail investors are doing the same, thanks to online platforms such as StartEngine. With this service, anyone can invest in healthcare startup companies.
Ben Freeberg, founder and managing partner of Oncology Ventures, is well-versed in the healthcare, startup and cancer arenas. He has invested in healthcare startups through both Optum Ventures and Alpha Partners. That’s in addition to his personal battle with cancer.
“Considering oncology’s inherent complexity and reach, cancer startups deserve a dedicated cancer-focused venture fund to help them scale,” he said. “We are proud to foster cancer innovation and are passionate about ensuring startups’ success by providing support around business model development, go-to-market strategy, hiring, strategic introductions and more.”
From 250 Startups To Three Investments
Most recently, the team at Oncology Ventures met with more than 250 healthcare startups with a focus on cancer care. After learning more and closely comparing each opportunity, the fund announced three investments.
- Gabbi: Gabbi's mission is to make all late-stage breast cancer obsolete. From risk assessment through treatment (if necessary), Gabbi is by its users' side.
- Health Universe: An open-source community for sharing health research, Health Universe makes research more accessible, actionable and interactive.
- VivorCare: An online platform for helping cancer survivors lead happier, healthier lives, regardless of where they are in their journey.
Through its investment in these three startups, Oncology Ventures hopes to reduce the cost of cancer care and improve patient outcomes.
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Two Partnerships
In addition to three new investments, Oncology Ventures has also announced two new strategic partnerships.
- New York Cancer & Blood Specialists (NYCBS): NYCBS is a fast-growing cancer practice that recently opened a cobranded comprehensive Cancer Center with Memorial Sloan Kettering Cancer Center. It provides patients the opportunity to obtain comprehensive, centralized treatment that includes medical oncology, surgery, radiation and clinical trials.
- City of Hope: City of Hope is a nationally rated hospital for cancer care. Its cancer center is known for its integrated model of patient care that includes on-site care, academics and research and development.
With its investments and partnerships, VC firms like Oncology Ventures continue to move the needle regarding cancer care.
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