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First Ascent Biomedical awarded $2M Florida Cancer Innovation Fund grant

Nancy Dahlberg
Nancy Dahlberg
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First Ascent Biomedical,  a Miami-based biotech company specializing in transforming cancer treatment through functional precision medicine, has been awarded a $2 million grant from the Florida Cancer Innovation Fund. This funding will accelerate the company’s efforts to expand access to cutting-edge, individualized cancer treatments for underserved and minority communities across Florida.

Florida Gov. Ron DeSantis and First Lady Casey DeSantis presented the award to First Ascent.

“I am deeply grateful for the leadership shown by Governor DeSantis and his wife Casey. Florida is taking a leadership position in partnering with us to build a repeatable model other states can implement to give hope to and save the lives of residents suffering from cancer,” said First Ascent co-founder and CEO Jim Foote, who lost his own son to cancer.  

Florida International University, where the check was presented last Friday, is the hub of First Ascent’s research efforts. FIU cancer researcher Diana Azzam, who is also the co-founder and scientific advisor for First Ascent, developed a functional precision medicine approach that targets cancer by combining genetic testing with testing of individual drugs on tumor samples and the results of this innovative method are used by oncologists to guide treatment, FIU News reported. Results of a clinical study published last year in Nature Medicine showed that 83% of patients treated with Azzam’s method showed improvement. Azzam is currently carrying out personalized cancer treatment clinical trials for both children and adults.

“The private-public partnership between FIU and First Ascent is a powerful testament to how the state of Florida is catalyzing innovations that have potential for saving lives,” Azzam said.

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The grant funding will be used to deploy First Ascent’s xDRIVE Drug Prediction Platform, an AI-powered solution that integrates DNA/RNA sequencing, drug sensitivity testing, and machine learning to rapidly identify the most effective cancer treatments for an individual facing a cancer recurrence. Every year, about 2 million people are diagnosed with cancer in the US, according to the National Cancer Institute.

The funding will also help generate clinical data to support FDA approval of individualized treatment planning technologies.

First Ascent, founded in 2018, will focus on expanding access to these individualized treatments for cancer patients, with a focus on children and rural communities in Florida, addressing longstanding health disparities in cancer care. The company aims to deliver personalized treatment plans and subsidize costs for families struggling with insurance denials for life-saving treatments.

“This project is about more than just advancing technology – it’s about saving lives,” said Azzam. “By using AI-driven functional testing, we can move beyond the traditional ‘one-size-fits-all’ approach and give every patient a truly personalized treatment plan.”

In January, First Ascent announced a $6 million funding round, backed by Miami-based investment firm Vidal Duart Enterprises and the global startup accelerator Techstars, and said it planned to use those funds to open its first commercial lab in Florida.

Photo above courtesy of Florida International University

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