Genomate Health, a leading precision oncology company, today announced its formal entry into the U.S. market during the SelectUSA Investment Summit, the premier event for international companies scaling into the United States.
CAMBRIDGE, MASSACHUSETTS / ACCESS Newswire / May 12, 2025 / Genomate Health was founded in 2022 as a spin-out of Oncompass Medicine, a Hungarian medical technology company. The company brings to market a new category of computational tools for Digital Drug Assignment (DDA) - a breakthrough method that uses advanced computational reasoning to match the most effective, personalized drug treatment to each patient's unique biological and clinical profile.
The expansion into the United States marks a pivotal moment in Genomate Health's mission to democratize personalized, data-driven cancer care and contribute meaningfully to the U.S. healthcare economy. By leveraging its clinically validated platform, Genomate®, the company aims to help oncologists make faster, smarter treatment decisions, improving outcomes while enhancing the cost-efficiency of cancer care.
"We see our future in the U.S.," said Nabil Hafez, MS, MBA, CEO of Genomate Health. "With fresh capital and growing momentum, we're well-positioned to bring the power of computational reasoning to cancer care across the country."
To support this expansion, Genomate Health has secured an additional $2 million in funding, bringing total foreign investment in the company to $7 million. Hungarian and European backers have led the investment and will accelerate the U.S. rollout of Genomate's clinical and diagnostic tools and services. As part of its strategy, Genomate Health is actively building partnerships with U.S. healthcare organizations committed to improving outcomes through evidence-based, personalized oncology solutions.
"The rapid growth of Genomate in the U.S. will not only make this technology available to more cancer patients, faster - it will also create high-skilled jobs and contribute to healthcare innovation across both countries," said Dr. Istvan Petak, Founder and CSO of Genomate Health. "We're committed to continuing investment in our R&D center in Hungary and strengthening our collaboration with Hungarian healthcare stakeholders to advance cancer care locally. At the same time, we're building a strong commercial presence in the U.S. to bring our solutions to patients worldwide".
Hungarian leaders also welcomed the milestone: "We are proud of Hungarian scientists, many of them Nobel-prize winners. Dr. Petak has already won many national and international innovation prizes. We are confident that he and his team will deliver the next scientific breakthrough in medicine: pioneering the use of artificial intelligence in the personalized therapy of cancer patients," said Dr. Laszlo Palkovics, Governmental Commissioner of Artificial Intelligence in Hungary.
Genomate Health has already gained recognition across leading innovation platforms. The company is a Mayo Clinic Platform_Accelerate program graduate and a participant in the Plug and Play HealthTech and Silicon Valley InsurTech accelerator programs. It has received multiple international awards for innovation in oncology, digital health, and computational diagnostics, further validating its solution.
This expansion follows the company's leadership announcement on May 5, which named Nabil Hafez as Chief Executive Officer and confirmed Dr. Istvan Petak as Chief Scientific Officer. The full announcement is available here.
Contact Information
Alina Luchian
Head of Marketing & Brand, Genomate Health Inc.
alina.luchian@genomate.health
SOURCE: Genomate Health
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/genomate-health-brings-european-innovation-and-2m-in-investment-to-th-1025904
