CAMBRIDGE, Mass.--(BUSINESS WIRE)--KEW Group Inc. (KEW), a privately held oncology services company, today announced the successful completion of a $16.8 million Series B financing led by Signet Healthcare Partners. Amzak Capital Management and Arsenal Capital Management participated in the financing round as new investors, as well as The Boylston Street Group, which also participated as a Series A investor in the company. KEW is focused on revolutionizing cancer care by empowering oncologists to access and apply genomic insights to identify optimal, individualized treatment approaches for patients.
“The successful close of this financing round marks an important milestone for our company. We are particularly pleased to have attracted this group of blue-chip investors, as it validates the enormous potential for the KEW Group to expand the reach and impact of genomic profiling to advance patient care,” said Scott Schell, Ph.D., M.D., MBA, president and CEO of KEW. “This funding will support commercialization of CancerPlexSM and KEW Therapeutic Pathways, expansion of our partnership activities with Cardinal Health, and deployment of the KEW Oncology Network.”
KEW gives oncologists practical, action-oriented solutions by coupling comprehensive, patient-specific, genomic data with evidence-based clinical intelligence about approved and emerging therapies. Oncologists use this information to create treatment decisions and optimize care in ways that are unique to each patient. KEW’s CancerPlex is one of the most comprehensive genetic/genomic tests available for accurate, thorough and timely molecular diagnosis of solid tumors. Encompassing over four hundred cancer genes, CancerPlex identifies changes in cancer genes which can be treated by new, precision therapies, requiring tumor samples smaller than other next-generation sequencing tests.
With 80 percent of U.S. cancer patients now treated in the community oncology setting, KEW’s specific focus on serving community oncology practices underscores the company’s mission to ensure that all patients have access to the most current, personalized treatment options, improved treatment outcomes, and better quality of life.
“Genomic profiling is becoming an essential component of informing physicians’ treatment decisions, guiding patients to available targeted therapies or potential clinical trial participation,” said Joyce Erony, Managing Director, Signet Healthcare Partners. “CancerPlex is one of the most comprehensive genomic tests on the market today, and the company boasts an elite team with unsurpassed knowledge of the most up-to-date scientific evidence about the molecular drivers of cancer. This unique combination of attributes well positions KEW for success, and we are delighted to be one of the leads in this important financing round for the company. We are particularly excited about KEW’s focus on bringing genomics-based tumor diagnostics tools and insights, formerly available at larger cancer treatment and academic centers, directly into community oncology practices, as we believe that’s an area of both tremendous need and growth.”
About KEW Group Inc.
KEW Group Inc. (KEW) is revolutionizing cancer care by empowering oncologists with access to genomic insights to design optimal, individualized treatment approaches for patients. KEW Group’s comprehensive set of products and solutions are designed to provide clarity above the complexity of genome-guided, personalized cancer therapy, arming oncologists with knowledge, informing today’s treatment decisions, and guiding tomorrow’s new therapies. Visit www.kewgroup.com to learn more.