Mom and Daughter Duo Secures $14 Million to Tackle Cancer with AI
Dr. Olufunmilayo (Funmi) Olopade and her daughter, Feyi Olopade Ayodele, have made a significant stride in the fight against cancer. Their Black-owned healthcare technology company, CancerIQ, has raised $14 million in funding to advance its mission of using AI to detect cancer early.
Funmi serves as the Chief Scientific Officer, while Feyi is the CEO of CancerIQ. Their innovative approach aims to address disparities in cancer care, particularly among underserved communities, by providing personalized risk assessments and tailored care plans.
Addressing Disparities in Cancer Care with AI
Due to various barriers, including limited access to healthcare, many Black women are diagnosed with cancer at later stages, leading to poorer outcomes compared to their white counterparts. The COVID-19 pandemic exacerbated the situation, with millions missing crucial cancer screenings.
CancerIQ’s precision health platform leverages AI to assess a patient’s cancer risk based on factors like genetics and family history. It then connects them with personalized care plans, ranging from screenings to lifestyle interventions. The platform has already been implemented at over 180 locations nationwide.
“CancerIQ’s vision is to end cancer as we know it by eliminating health disparities and democratizing access to the latest advances in cancer early detection and prevention,” Ayodele said after being featured in Forbes. “We started by making genetic testing more accessible and connecting patients to the right preventive services at the right time.”
Industry Support and Future Plans
The recent $14 million funding round, co-led by Merck Global Health Innovation Fund and Amgen Ventures, showcases industry support for CancerIQ’s vision.
The new funding will further the company’s mission to bridge gaps in cancer screening and risk assessment, as highlighted in a recent report from the President’s Cancer Panel.
With plans to hire 50 new team members, CancerIQ is gearing up to make an even bigger impact in the fight against cancer. The company aims to democratize access to advanced detection and prevention methods, ultimately ending cancer disparities.
