Press Release

Ilico Genetics, Inc. Announces Life Sciences Greenhouse Investments As New Investor And Gregory Jackson, Ph.D., As New Board Member.

Bethlehem, PA, September 28, 2023 – Ilico Genetics has closed an oversubscribed SAFE round with investments from angel investors and Life Science Greenhouse Investments (LSGI), an early-stage venture capital firm that supports healthcare technology companies in Pennsylvania.  

A portion of the funds will be used to finalize the development of a first-of-its-kind stomach cancer detection test. Composed of an AI-based predictive model that combines patented liquid biopsy tests with patients’ clinical information, the test is designed to make it possible to detect stomach cancer early. Additionally, the funding will support preparations for a multicenter clinical trial to begin in 2024.

As part of the deal, Gregory Jackson, Ph.D., an entrepreneurial scientist with clinical research expertise, will join the Board of Directors of Ilico Genetics. Dr. Jackson is the Executive Vice President of LSGI.

“We are thrilled to have LSGI as our new investor and Dr. Jackson as our new board member,” said Fernando Alarcon, MBA, the co-founder and CEO of Ilico Genetics. “LSGI has a proven track record of supporting innovative healthcare technology companies in Pennsylvania and beyond. Dr. Jackson brings valuable experience and insights from his successful career as a scientist, entrepreneur, and investor. We look forward to working together to advance our mission of creating precision medicine solutions for gastric cancer patients.”

“Ilico Genetics is developing a game-changing technology that has the potential to save millions of lives by detecting gastric cancer at an early stage,” said Dr. Jackson. “We are impressed by the scientific evidence, the market opportunity, and the passionate team behind this venture. We are excited to partner with them and help them achieve their vision of changing the history of gastric cancer.”

About Ilico Genetics

Ilico Genetics, a spin-off company of Pontificia Universidad Católica de Chile, is developing the first methylated DNA based molecular test specifically designed for the early detection of gastric cancer, even years before Esophagogastroduodenoscopy (EGD, gold standard). With only a blood sample, and even without symptoms, it detects a tumor in the stomach or lesions that could evolve to gastric cancer. The results are dynamic and show the cumulative presence of tumors over time. The test reduces treatment costs by ~ 90%, compared to advanced stages; provides timely results to prioritize patients at risk (“fast track”); has screening potential due to its low cost and ease of implementation; and has monitoring capacity for the dynamic follow-up of premalignant lesions (i.e., gastric intestinal metaplasia or “GIM”). For more information, visit www.ilicogenetics.com.

About Life Science Greenhouse Investments

Life Sciences Greenhouse Investments provides funding and targeted business advice to help startup life science companies bring life-changing technologies to market. By providing early-stage capital and operational expertise to innovative technologies, fostering company growth, and creating jobs, LSG Investments is strengthening Pennsylvania’s vibrant life sciences ecosystem and improving healthcare outcomes for patients around the world.         

Since LSG Investments was founded in 2002 as Life Sciences Greenhouse of Central PA, the evergreen venture fund has invested $37 million into 72 companies and projects that collectively have created and retained 8,500 direct and indirect jobs in the Commonwealth. Today, more than 152 products developed by LSG Investment-funded companies are currently marketed or in development. For more information, visit www.lsgpa.com.

Contact:

contact@ilicogenetics.com

(610) 849-5039