Previse, a Baltimore startup built with technology developed at Johns Hopkins University, on Tuesday raised a $3 million seed round from local investors TEDCO, Wexford Science and Technology, and Riptide Ventures, Vermont’s Gaingels and several angel investors.
The company, previously known as Capsulomics, simultaneously launched its first lab-developed test called Esopredict to diagnose esophageal cancer. Esopredict, termed a first-of-its-kind biomarker technology, was developed at Johns Hopkins. It not only detects esophageal cancer — one of the most lethal cancers with a 20% survival rate five years after diagnosis — but also predict its onset.
“Our pioneering effort to introduce a first-of-its-kind test to market is a testament to our unwavering commitment to offer advanced solutions to gastroenterologists in their pursuit of providing a proactive and personalized approach to the treatment of Barrett’s esophagus and the prevention of esophageal cancer,” said Previse co-founder and CEO Daniel Lunz, a former US Marine.
With the specific data provided by Esopredict, gastrointestinal specialists can provide critical information to patients and healthcare providers, effectively managing risk of a future cancer diagnosis, said Dr. Stephen Meltzer, Previse’s co-founder and chief medical officer who was part of the Johns Hopkins team that developed Esopredict.
Esopredict uses samples of a patient’s Barrett’s esophagus cells to identify changes in the DNA methylation levels of four genes, and then makes risk predictions with a five-year horizon. According to the American Cancer Society, over 20,000 new cases of esophageal cancer are diagnosed annually. Of them, 16,120 are predicted to die in the next five years.
Previse’s Backers
TEDCO is the state-backed agency that provides early-stage tech funding and support to startups in Maryland. Since its inception in 1998, its portfolio firms have generated more than 10,000 jobs, and made an economic impact estimated at $2.3 billion. Its portfolio companies have also contributed over $100 million in direct state and local revenue. TEDCO’s recent investments include VirgilHR, Foretrace, SeeTrue, Linshom Medical and Warrior Centric Health.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
The agency runs seven different entrepreneurship programs. They are: Venture Funds, Seed Investment Funds, Federal programs, Maryland Innovation Initiative Fund, Maryland Stem Cell Research Fund, Rural Business Innovation Initiative Fund and Social Impact Funds. TEDCO is led by executive director and CEO Troy LeMaile-Stovall, a 25-year veteran who most recently served as the chief operating officer at the University of the District of Columbia (UDC).
Riptide Ventures, based in Baltimore, was incubated at Early Light Ventures and is led by managing partner Mike Leffer, who has served the US Army as an officer. Leffer founded two companies and was a founding team member of Squadra Ventures. He holds an MBA from Johns Hopkins and is a graduate of the United States Military Academy at West Point.
Wexford Science and Technology, founded by James Berens, was formed specifically to meet the growing and specialized real estate needs of universities and research institutions. Berens is a banking veteran who served Bank of America for nearly two decades.
