Yemaachi Biotech, a Ghanaian company focused on cancer research and diagnostics, has raised $3 million in a seed round to further its aim of global precision oncology diversification.
LifeLine Family Heritage Fund, Y Combinator, Tencent, LoftyInc Capital, VestedWorld, V Square Capital, and Ethan Perlstein all participated in the round, which was led by V8 Capital.
The company debuted its at-home Sheba HPV Test in Ghana in January to assist identify women who are at high risk of cervical cancer, which is the second most frequent malignancy among women in West Africa.
Yemaachi Biotechnology, which was founded in 2020, employs cutting-edge immunogenomics, bioinformatics, and artificial intelligence to speed the development of cancer detection and cure solutions in order to reduce the economic burden of cancer.
“Creating a dataset with the most genetic diversity can enable rapid discoveries with long-term ramifications for cancer research, medication development, and patient care, not only in Africa but internationally,” said Yaw Bediako, Ph.D., Yemaachi’s co-founder, and CEO.
With unique diagnostics and partnerships, the company has already made strides.
Using liquid biopsy, Yemaachi and Lucence initiated the AMBER Study late last year to better describe and understand the genetics of breast cancer in women of African heritage.
The Bill and Melinda Gates Foundation has awarded Yemaachi a $1 million grant as part of the Calestous Juma Science Leadership Fellowship awarded to Bediako.