Amsterdam-based Ellogon, a company working on personalising immunotherapy with data and algorithms, announced that it has secured €1M in fresh funding from ROM InWest and UvA Ventures Holding.
Rudi Rust, CEO of UvA Ventures, says, “We are pleased to announce our recent investment in Ellogon, a company at the forefront of cancer immunotherapy. Emerging from the University of Amsterdam in 2019, Ellogon offers innovative technology for precise patient selection in this critical field.”
“We are proud to support Ellogon’s mission and contribute to the advancement of cancer treatment, aiming for more personalised and effective solutions in the fight against cancer.”
Cancer treatments with AI
According to a press release from ROM InWest, immunotherapy remains costly, ranging from €50K to €200K per patient. The escalating demand for affordable cancer treatments is underscored by a projected 70 per cent increase in cancer cases over the next two decades.
EIDOSTM, a CE-IVDD-certified solution, employs AI to identify suitable candidates for immunotherapy, a modern cancer treatment.
It stems from Ellogon’s strategic collaboration with the Netherlands Cancer Institute (NKI) in 2020. The solution, known for its effectiveness, integrates into clinical practice, providing an accessible approach to advancing cancer treatments.
Janet Nieboer, CEO of ROM InWest, says, “ROM InWest invests in Ellogon because with EIDOSTM they make it possible for patients who benefit from immunotherapy to actually receive this treatment.”
“This makes it a good example of how digitalisation can keep healthcare accessible and affordable for everyone.”
Capital utilisation
The funds will boost Ellogon’s expansion of its EIDOSTM solution. The focus is on integrating it into established cancer immunotherapy methods, ensuring more precise and affordable healthcare for all.
Robert Kuipers, CEO of Ellogon, says, “Unfortunately, immunotherapy is not effective for everyone. Results are currently not achieved in approximately 50 per cent of patients receiving immunotherapy, while the therapy would probably benefit approximately 15 per cent of unselected patients.”
“Our solution helps to more accurately determine the chance of success of immunotherapy for a patient. This increases the chance of survival for the patient and makes it easier to keep healthcare costs in check.”
“In concrete terms, our solution leads to a total annual saving of €500M for the Netherlands and even €13B for the EU member states,” adds Kuipers.
Immunotherapy, leveraging the body’s immune system to combat cancer, has tripled overall survival rates compared to traditional treatments. Dutch hospitals widely prescribe this approach to enhance patient outcomes.
Brief about the investors
ROM InWest is the regional development company for North Holland that comprises a team supporting entrepreneurs in the realms of food, energy, healthcare transition, circular economy, and sustainable economics.
With programmes facilitating scaling and financial viability, ROM InWest collaborates with external financiers and invests through the SME Fund and Transition Fund. Their work involves fostering knowledge exchange and networking within the region.
UvA Ventures Holding is an early-stage investor specialising in academic spin-off companies originating from the University of Amsterdam (UvA). Engaging closely with academics and entrepreneurs in the initial stages of company formation, their focus is on facilitating the commercialisation of knowledge.
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