Washington State gives money to new companies and AI-based cancer tests. With $2.5 million in new cash, the Seattle company Phase Genomics will improve its tool to find genetic changes in cancer.
The project is possible because the U.S. National Cancer Institute gave a small business award of $2 million, and the Andy Hill CARE Fund in Washington State gave a match of $500,000.
The state can put up to $10 million annually into the fund to help pay for cancer studies. The fund was set up in honor of state politician Andy Hill, a prominent cancer research backer. The state assembly decided in June 2022 to put an extra $30 million into the fund as a one-time payment.
On Monday, the “Breakthrough Seed Funding” funds from the Andy Hill Fund were announced. This money is for risky projects that might pay off in the long run. In this group, the state gave more than $2 million to state research organizations and Phase Genomics.
Phase Genomics uses “proximity-ligation” to study how DNA is arranged in a cell in three dimensions. This method can find chromosome changes often found in tumors, such as deletions or duplications. The money will be used to improve the OncoTerra 3D genetics tool, which can find problems with cancer genes.
The company will examine tumor samples and crunch the data to make an AI-based ChAOS model (Chromosomal Aberration in Oncology Score). This model gives a score that can be used to predict what will happen. With the money from the NCI, a project will be able to look at 500 tumor samples from people with acute myeloid leukemia. With the money from Andy Hill, there will be a project to look at colon tumor samples from people in the Pacific Northwest who aren’t getting enough care.
In a statement announcing the awards, Ivan Liachko, the CEO of Phase Genomics, said that the new method could rate patient risk with “added predictive power” over current practices.
In the “Breakthrough Seed Funding” group, other projects funded include one at the University of Washington to make small drugs to treat advanced prostate cancer and another at the Institute for Systems Biology to study the tumor-immune microenvironment.
The new projects build on the research funds that Andy Hill gave to biotech businesses and schools in Washington for more than $30 million earlier this year. Some of the startups that got funding are Deverra Therapeutics, Kayothera, Proteios Technology, Sigma Genetics, Sygnomics Talus Bioscience, and imaging business AlpenGlow Biosciences, which will use AI to look at cancer biopsies and make 3D-spatial biology pictures of them.
FAQs
Q1: What are AI-based cancer tests?
A: AI-based cancer tests utilize artificial intelligence to analyze medical data and identify signs of cancer or related abnormalities.
Q2: How do AI-based cancer tests work?
A: With the help of advanced algorithms and machine learning, these tests can detect patterns in data that may suggest the existence of cancer.
Q3: Are AI-based cancer tests reliable?
A: It’s always a good idea to double-check essential things, and medical diagnoses are no exception. While AI-powered tools have proven entirely accurate, it’s best to use them alongside other diagnostic methods just to be sure.
Q4: Are AI-based cancer tests costly?
A: Costs vary, but many insurance plans cover them, and financial assistance options may be available.
Q5: Should I consult my doctor about AI-based cancer tests?
A: Of course! Chatting with your doctor about these tests to see if they suit you and your well-being might be a good idea.
