PhiTech Raises $2.4M to Scale Multi-Omics Precision Medicine Globally

PhiTech Co-Founders: Fatih Erdoğan Sevilgen, Saliha Durmuş, and Tunahan Cakir

PhiTech, a deep-tech company operating in the field of health biotechnology, has secured $2.4 million in its third funding round. Founding scientists Dr. Saliha Durmuş, Prof. Dr. Tunahan Çakır, and Prof. Dr. Erdoğan Sevilgen stated that with this investment round, they will focus on market growth with the goal of building a global brand in precision medicine applications.

The investment round, led by Entertech GSYF, established through a collaboration between Entertech Istanbul Technopark and Yapı Kredi Portfolio, included participation from Eksim Ventures, Founder One, İTK Ventures, and TechnoBee, along with individual investors Muharrem Usta, Kamil Buğra Rodoper, Banu Başaran, Mert Erdoğmuş, Ahmet Kemal Atasoy, Adem Akkaya, Zeynep Seval, and Selami Düz.

Existing investors in the company, Arya VC, İstcapital, Gelecek Etki GSYF, Candan Karabağlı and Osman Alp Arlı, also joined the round with follow-on investments.

Multi-Omic approach that enhances diagnostic power.

With its G&M (Genomics & More) clinical decision support platform, PhiTech analyzes patient DNA (genomic) and RNA (transcriptomic) sequencing data in an integrated manner, providing actionable insights to hospitals, genetic diagnostic laboratories, and pharmaceutical companies to support diagnosis, treatment decisions, and drug development processes in genetic diseases. This approach provides additional diagnostic possibilities in cases where diagnosis cannot be made with DNA-based genetic tests alone. PhiTech is a global leader in the transition from DNA-based approaches to multi-omics approaches in clinical settings.

For rare diseases, which affect 400 million people worldwide and 5 million in Türkiye, the average time to receive an accurate diagnosis is over 6 years. While the diagnosis rate for genetic tests using only DNA data remains below 40%, PhiTech's G&M platform has begun to make this process faster and more accessible. In Türkiye, dozens of patients who could not receive a diagnosis for years with DNA-based tests have been diagnosed in the last year by medical genetic specialists supported by G&M.

Objective: Growth in the global market and cancer solutions.

In addition to its headquarters in Türkiye, where R&D activities are concentrated, the company, which also has offices in America and the Netherlands, is making positive progress in the international patent processes for the artificial intelligence tools it has developed. With the new investment, PhiTech will advance these multi-omics AI solutions in the field of rare diseases in the market, while also completing the R&D processes for solutions targeting cancer.

Source: Egirism