California-based Prenuvo is a medtech company that uses advanced MRI technology to check for diseases and cancer in less than one hour. Felicis led $70 million in funding for the company’s Series A debt and equity round.
Other participants include Cindy Crawford, an actress and model, who’s also a health investor, wellness model and supermodel; Anne Wojcicki, the CEO of 23&Me; Tony Fadell, the Nest founder and NYT bestseller author; Steel Perlot, chairman of Eric Schmidt’s venture with Rande Gerber the entrepreneur.
The US company plans to use the funds to invest in their AI team, new radiology tools, custom advanced MRI builds and national expansion.
Health information is too late to be of use to many patients. Diseases and health complications often exhibit symptoms before they are properly diagnosed. This limits the number of effective treatment options and makes treating serious issues extremely expensive. Andrew Lacy, the CEO and founder of Prenuvo, believes current healthcare methods are reactive instead of proactive. His company is using funding from their S-1 venture round to change that.
MRI Scans That’s Faster And Cheaper
Andrew Lacy created Prenuvo as an alternative to traditional MRI methods that aren’t contaminated by radiation. It offers scans that are faster, more cost-effective and more intelligent than traditional methods.
A one-hour Prenuvo scan uses proprietary artificial intelligence software and modern software to examine 26 different body regions in one sitting.
It provides high-quality clinical exams for diagnosing more than 500 conditions at low cost compared to traditional MRI screens. These screenings can detect and diagnose Stage 1 cancers even though it doesn’t use magnets.
Prenuvo runs screening clinics in Minneapolis, Los Angeles, Dallas, Boca Raton and Vancouver. These preventative services provide results much faster than traditional methods.
The company claims to have increased revenue by 240% each year. They plan to expand their locations in cities like New York, Boston, Chicago and Bethesda by the next year. Additionally, they claim to have 7 current locations, including two in Boca Raton and Santa Monica.
Using Prenuvo’s imaging system, radiologist Raj Attariwala and co-founder claim they provide patients with unprecedented control over their physical state. They say this is because the typical physical hasn’t changed for decades. By measuring health changes that the naked eye can’t detect, modern technological tools give doctors access to powerful health insights. These tools allow patients to better understand their health and make more informed decisions. This effectively reduces the time it takes for accurate treatment plans and monitoring to be made.
Felicis is a venturesome company that strives to better the health of its patients through empowerment. The General Partner and founding member Sundeep Peechu provides this vision through his participation in Felicis. Felicis provides hope to people who have been diagnosed with cancer or someone who knows someone diagnosed with cancer.