Massive Bio, Inc., a leader in precision medicine and artificial intelligence (AI) enabled patient centric clinical trial enrollment, raised $9 million co-led by Revo Capital and Kenan Turnacioğlu, Chair of Board of Directors PaigeAI, with additional participation from DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Development Finance Institution.
This investment will enable the company to further scale its operations globally, invest in marketing, and launch additional non-status quo products in oncology clinical trial enrollment with its data-rich platform. The company’s clinical research business launched in late 2019, and the financing round builds on another exponential growth year for Massive Bio, with 60,000 cancer patients and 26 enterprise customers. 88% of those customers are large pharmaceutical companies and CROs. Massive Bio has expanded to 12 countries with a global workforce of 70 employees in the past 12 months.
Massive Bio Co-founder and CEO Selin Kurnaz stated, “We are building a category-defining company in the oncology ecosystem by engineering patient enrollment value chain, and we are excited by the unwavering support from our new and existing investors, who have seen our exponential organic growth, strong ROI to our clients and unique value proposition to patients and oncology eco-system.” Dr. Kurnaz added, “We are significantly different than the companies at our stage, cost-efficient and generating consistent revenue and client growth despite the economic downturn, relying mostly on customer demand to fuel our growth. Our passion, dedication, perseverance, and smart work has led to the company’s success and expansion in 12 markets without a sales force or marketing. Having the financial support, healthcare expertise and global coverage of investors such as DEG and Kenan, along with heavy technology expertise of our existing investors like Revo Capital will help us execute our goals globally and at accelerated scale.”
As a global investor with a mandate to improve health and living conditions as part of the UN-Sustainable Development Goals (SDG), we are particularly proud to support Massive Bio’s further international expansion to improve access to new cancer treatments and clinical trials around the world, helping cancer patients globally. We are grateful to the founders and the entire cap table for smooth, trustful, and efficient cooperation on this round which enables Massive Bio to scale up and address its global Total Addressable Market (TAM).”
About Massive Bio