A Serial Entrepreneur and Cancer Survivor Pitches Precision Medicine Startup with Lux Capital's Deena Shakir
Aug 16, 2023
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Serial entrepreneur and cancer survivor, Lisa Alderson, pitches her startup, Clarified Precision Medicine, to Deena Shakir of Lux Capital. They discuss the go-to-market strategy, using genomics in oncology, building a moat, making money, SAFEs vs priced rounds, and keeping a motivated founding team.
Clarified Precision Medicine aims to make world class precision medicine expertise accessible to every cancer patient and every oncology practice.
Clarified Precision Medicine's go-to-market strategy involves partnering with EHR providers to embed their solution into existing workflows to save time for physicians and improve access to precision oncology care.
Deep dives
Clarified Precision Medicine: Making Precision Medicine Accessible to Cancer Patients
Clarified Precision Medicine aims to bridge the gap between advancements in genomics and patient access to precision oncology. By utilizing a software-enabled clinical support tool, oncologists can better understand which targeted therapies should be used in treating cancer based on tumor profiling and genetic markers. The company's goal is to bring the latest advancements in genomics into clinical care and improve patient outcomes. They are focused on partnering with EHR providers to embed their solution into existing workflows and make it more accessible to oncologists. Clarified Precision Medicine is also working towards reimbursement coverage and has already become a covered benefit for 41 million people. Their mission is to increase access to precision oncology for every cancer patient.
Founding Story and Vision for Clarified Precision Medicine
Lisa Elderson, the co-founder of Clarified Precision Medicine, has a background in tech and consumer industries. Inspired by the advancements in genomics, she recognized the need to unlock the potential of precision medicine for personalized clinical care. Lisa's personal experience as a cancer survivor and the complexity she faced in accessing tumor sequencing drove her to start Clarified Precision Medicine. The company aims to bring the latest advancements in genomics to all patients and oncologists, regardless of their location. By embedding their software-enabled solution into existing platforms and partnering with different organizations, they strive to improve the quality, access, and cost-effectiveness of precision oncology care.
Democratizing Precision Oncology and Overcoming Challenges
Clarified Precision Medicine's mission is to democratize access to precision oncology. They address this by providing a clinical support tool that helps oncologists utilize the right set of tests and treatments based on medical management guidelines. By assisting in treatment decisions and bringing leading clinical expertise to community settings, Clarified Precision Medicine aims to improve patient care. They envision partnerships with CROs and pharma to further advance clinical care and bridge the gap between clinical trials and patient care. The company recognizes the challenge of diversity and inclusion in clinical trials and sees an opportunity to unify trials and clinical care for more impactful and efficient drug development.
Go-to-Market Strategy and Funding Plans
Clarified Precision Medicine has a go-to-market strategy focused on partnering with EHR providers to embed their solution into existing workflows. They recognize the need to save time for physicians and aim to integrate their solution seamlessly into clinical practices. The company is currently raising a seed financing round of $2 million to expand their team and accelerate their reach. They anticipate subsequent rounds to raise a total of $10 to $15 million. With a lean and scrappy approach, Clarified Precision Medicine aims to be a capital-efficient company and position itself for consolidation in the market, potentially finding a home within a larger organization to achieve broader impact.
In this episode, serial entrepreneur and cancer survivor Lisa Alderson pitches her new startup Clarified Precision Medicine to Lux Capital GP Deena Shakir. Clarified is making world class precision medicine expertise accessible to every cancer patient and every oncology practice.
We discuss their go-to-market strategy, using genomics in oncology, building a moat, how they’ll make money, SAFEs vs priced rounds, and how they’ll keep a large founding team motivated.
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