VisionGate gets investment from Trinnovate Ventures
Trinnovate Ventures today announced it will partner with Phoenix-based VisionGate to help accelerate clinical trial programs for both LuCED, a non-invasive diagnostic test targeting early stage lung cancer that responds best to therapy, and Iloprost, a chemoprevention drug for patients who have a pre-cancerous condition of the lungs called dysplasia.
Trinnovate Ventures, a subsidiary of Blue Cross Blue Shield (BCBS) of Arizona, seeks collaborations that promise to ultimately deliver the triple aim of lower healthcare costs, improved patient outcomes and better patient experiences.
“Lung cancer is the number one cancer killer worldwide and is the only cancer whose five-year survival rate has remained virtually unchanged for decades due to the lack of an effective screening test that could significantly impact survival, while other cancers have benefited from a mammogram, Pap smear, colonoscopy, or PSA,” Trinnovate’s Chief Executive Officer and BCBS of Arizona’s Chief Medical Officer Dr. Vishu Jhaveri said. “VisionGate’s accurate LuCED test for lung cancer and dysplasia, along with the company’s exclusive rights to Iloprost, a therapeutic drug that has exhibited in Phase 2 clinical trials the ability to reverse pre-cancerous dysplasia to prevent lung cancer, demonstrates incredible promise.”
As part of this collaboration, Trinnovate Ventures will serve as the lead investor for VisionGate’s $20-million funding round. Having evaluated VisionGate for over a year, Trinnovate’s strategic investment underscores VisionGate’s potential in the marketplace to significantly impact lung cancer mortality and bring a new paradigm for the management of this terrible disease. The partnership will propel the clinical research forward in hopes that Arizonans and people around the world will have quicker access to VisionGate’s potentially life-saving diagnostic and therapeutic innovations.
“Our focus is on finding lung cancer early – when patients are pre-symptomatic, but when treatment is most effective. This is how we start eradicating lung cancer,” VisionGate’s Chairman and CEO Dr. Alan Nelson said. “Our partnership with Trinnovate is pivotal and accelerates our effort to lower healthcare costs through the application of our patented technologies that hold potential to dramatically alter the course of lung cancer, including its prevention.”
For more information about VisionGate, visit www.visiongate3d.com.