NEC OncoImmunity AS Files Prospectus to Advance AI-Powered Neoantigen Prediction Platform for Personalized Cancer Immunotherapy

On July 29, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that the information technology company NEC had acquired the Norwegian bioinformatics company OncoImmunity AS. Following the acquisition, OncoImmunity AS will become a subsidiary of NEC and operate under the name NEC OncoImmunity AS. Financial terms of the transaction were not disclosed.

Headquartered in Oslo, Norway, OncoImmunity AS is a biotechnology company founded in 2014 by CEO Dr. Richard Stratford. The company is dedicated to developing software solutions that facilitate effective cancer immunotherapy and identify optimal neoantigen targets for truly personalized cancer vaccines and cell therapies within clinically actionable timeframes. OncoImmunity AS provides proprietary machine learning-based software for personalized cancer immunotherapy, addressing gaps in the field of immunogenic neoantigen prediction.

NEC, established on July 17, 1899, and headquartered in Tokyo, Japan, is a multinational information technology company. NEC’s business operations are primarily divided into three segments: IT Solutions, Network Solutions, and Electronic Devices. The IT Solutions segment mainly provides software, hardware, and related services to enterprises, government entities, and individual users. The Network Solutions segment focuses on the design and provision of broadband systems, mobile and wireless communication network systems, mobile phones, broadcasting systems, and other related systems. NEC’s Electronic Devices segment includes semiconductors, displays, and other electronic components.

NEC also manufactures the Versa series of laptops for the international market and the Lavie series for the domestic Japanese market. NEC is also the manufacturer of the Earth Simulator, which was the world’s fastest supercomputer at the time. In 2012, NEC ranked 271st on the Fortune Global 500 list. On December 15, 2014, the Stockholm International Peace Research Institute in Sweden listed NEC as one of the top 100 companies worldwide by arms sales in 2013.

NEC announced in May 2019 the launch of its AI-driven drug discovery business. NEC stated that this acquisition is part of its commercial strategy and will help strengthen the development of its personalized immunotherapy products. Following the completion of the acquisition, NEC will continue to focus on the drug discovery business, while NEC OncoImmunity AS will remain dedicated to neoantigen prediction services.

NEC and OncoImmunity AS share a common vision, firmly believing that artificial intelligence can improve personalized cancer treatment. AI enables each cancer patient to find the most suitable medication for therapy, an area in which their AI technology holds significant potential.

“By combining the strengths of OncoImmunity AS and NEC’s neoantigen prediction products with NEC’s expertise in artificial intelligence, data management, and security, these synergies will help strengthen NEC’s personalized immunotherapy initiatives while propelling NEC OncoImmunity AS to become a leading provider of neoantigen prediction services,” said Dr. Richard Stratford, CEO and Co-founder of OncoImmunity AS.

“NEC is firmly convinced that genomics-based healthcare paves the way for personalized medicine. OncoImmunity AS is a recognized player in the field of neoantigen prediction, and its robust system is expected to create valuable synergies with NEC,” said Osamu Fujikawa, Senior Vice President of NEC. “We believe that the rapid development of NEC OncoImmunity AS will provide new avenues for improving cancer treatment.”

(Compiled by Cheng Tao)