Yemaachi Biotech, a cancer research and diagnostics startup based in Accra, Ghana with headquarters in Washington, DC, announces the completion of a $3 million seed investment to further its aim of global precision oncology diversification. The round was led by V8 Capital, with participation from LifeLine Family Heritage Fund, Y Combinator, Tencent, LoftyInc Capital, VestedWorld, V Square Capital, and Ethan Perlstein.
“We’ve only begun to scratch the surface of genomic data and understanding. We know genetic outcomes are context dependent, including within the genome. Creating a dataset that has the greatest genomic diversity can enable rapid discoveries that have long-term implications for cancer research, drug development, and patient care, not just in Africa, but globally,” said Yaw Bediako, PhD, co-founder and CEO of Yemaachi. “Combined with Yemaachi’s expertise in immunogenomics, bioinformatics, and deep learning, the Company’s expansive datasets can be a force multiplier for rapidly accelerating advancements in oncology.”
Yemaachi was recently selected a beneficiary of a $1 million grant from the Bill and Melinda Gates Foundation as part of the Calestous Juma Science Leadership Fellowship presented to Bediako. The coveted fellowship is intended to assist scientists in creating breakthroughs in critical global health concerns.
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“The breadth of expertise of Yemaachi’s highly talented founding team, the clinical partnerships they have already formed, and their focus on leveraging the vast untapped resource of African genetic diversity to discover the next generation of cancer diagnostics and therapeutics makes them a very exciting and valuable investment for us,” said Tobi Oke, Managing Partner at V8 Capital Partners.
A Look At What The Startup Does
Yemaachi was founded in 2020 by Yaw Bediako, David Hutchful, Joyce Ngoi, and Yaw Attua-Afari with the mission of advancing precision oncology across Africa and beyond through increased access to research and diagnostics. Yemaachi’s first-of-its-kind pan-African genomic and clinical knowledge base and research platform, in conjunction with extensive clinical connections across Africa, lay the groundwork for breakthrough products and collaborations aimed at advancing new molecular diagnostics and therapeutic targets. Additionally, the Company provides clinical testing services, including NGS-based screening and diagnostic testing that are tailored to the needs of indigenous communities.
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The Company has already made significant strides with breakthrough diagnostics and strategic partnerships. Late last year, Yemaachi and Lucence initiated the AMBER Study, which would use liquid biopsy to better describe and understand the genetics of breast cancer in women of African origin. The Company released its at-home Sheba HPV Test in Ghana in January to assist in identifying women at increased risk of cervical cancer, the second most frequent kind of cancer in West African women.
The Company’s name is a combination of three Ghanaian languages, which translates as “A New Dawn for Health in Africa.”
Africa has always been underrepresented in genomic and oncology research. Although Africa accounts for 17% of the world’s population, just 2% of participants in genetic studies are of African ancestry. Africa’s rapidly rising, treatment-naive population, substantial disease load, and the highest human genetic diversity of any place on the planet present an ideal environment for extracting novel insights and improving patient outcomes.
Yemaachi Biotech Yemaachi Biotech
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer