Ben Freeberg was an affiliate at a enterprise agency Alpha Companions when he all of the sudden handed out in the midst of the day. He sought medical assist, and after working just a few diagnostic checks, docs didn’t discover something unsuitable with him.
“They advised me I used to be overreacting,” Freeberg advised TechCrunch. However rather less than twelve months later, he was recognized with Stage 3a most cancers, and it turned evident that the incident was the start of the illness. “In the event that they detected my most cancers earlier, I may have averted 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 bettering most cancers care and analysis. Six and a half years after his analysis, Freeberg closed the inaugural Oncology Ventures fund with $30 million in dedicated capital.
It’s no secret that it’s a difficult fundraising atmosphere for rising managers. However Freeberg’s private expertise and his background as a vice chairman at United Well being’s VC arm Optum Ventures and at an Andreessen Horowitz and Bessemer-backed most cancers care startup Thyme Well being, helped him. He attracted capital from outstanding healthcare establishments together with Cardinal Well being, Metropolis of Hope and Moffitt Most cancers Heart.
Not like different cancer-focused VC companies, together with Reed Jobs’ Yosemite, which raised $200 million for its debut fund final 12 months, Oncology Ventures doesn’t spend money on drug discovery. The agency is targeted on startups that enhance care with the assistance of knowledge and sort out challenges from early detection to picking optimum remedy plans.
“Treating most cancers is employers’ prime 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 realize.”
Freeberg, a solo GP, stated he intends to finally convey 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 Well being, an oncology info startup acquired by Roche for practically $2 billion.
