Ben Freeberg was an affiliate at a enterprise agency Alpha Partners when he instantly handed out in the midst of the day. He sought medical assist, and after operating just a few diagnostic exams, medical doctors didn’t discover something mistaken with him.
“They advised me I used to be overreacting,” Freeberg advised TechCrunch. But rather less than twelve months later, he was recognized with Stage 3a most cancers, and it grew to become evident that the incident was the start of the illness. “If they detected my most cancers earlier, I might have prevented a number of surgical procedures and possibly even a chemotherapy routine.”
Being a most cancers survivor formed not solely his life but additionally his profession. He set his sights on launching a enterprise fund dedicated to enhancing most cancers care and analysis. Six and a half years after his prognosis, Freeberg closed the inaugural Oncology Ventures fund with $30 million in dedicated capital.
It’s a difficult fundraising setting for rising managers. But Freeberg’s private expertise and his background as a vp at United Health’s VC arm Optum Ventures and at Thyme Health, a most cancers care startup backed by Andreessen Horowitz and Bessemer, helped him. He attracted capital from outstanding healthcare establishments together with Cardinal Health, City of Hope, and Moffitt Cancer Center.
Unlike different cancer-focused VC corporations, together with Reed Jobs’ Yosemite, which raised $200 million for its debut fund final 12 months, Oncology Ventures doesn’t put money into drug discovery. The agency is concentrated on startups that enhance care with the assistance of information and deal with challenges from early detection to picking optimum therapy plans.
“Treating most cancers is employers’ high healthcare price now,” Freeberg stated, including that investing in startups that assist lower bills and enhance outcomes is a big alternative.
The agency, which writes checks starting from $250,000 to $1.5 million, has already backed seven startups, together with Gabbi, an early detection platform for breast most cancers; Reimagine Care, a supplier of virtual-first most cancers and restoration care, and OncoveryCare, a teleclinic for most cancers survivors.
Freeberg believes his personal expertise with most cancers helps him join with founders and win aggressive offers.
“I’ve had founders tear up throughout conferences,” he stated. “It was refreshing for them to talk with me about their mission and what they’re attempting to attain.”
Freeberg, a solo GP, stated he intends to finally deliver on one other accomplice.
The agency’s advisory board contains Dr. Lee Newcomer, former chief medical officer of UnitedHealth Group and Carolyn Starrett, CEO of Flatiron Health, an oncology info startup acquired by Roche for almost $2 billion.
