Toronto-based Altis Labs has closed a US$25 million Series A co-led by OrbiMed and Qiming Venture Partners USA, with participation from Innovation Endeavors, Benchstrength, Fusion Fund and Lumira Ventures's Cancer Breakthrough Fund. The round bankrolls a commercial push for AI imaging endpoints that read out oncology trial signals from routine CT and MRI scans.
Reading Out A Trial Before The Standard Endpoint Matures
Altis's Nota platform trains on longitudinal oncology datasets that pair imaging with real-world survival data, generating patient-level survival predictions from a single scan. In a Phase 3 non-small-cell lung cancer trial presented last week at the IASLC World Conference on Lung Cancer, Nota's imaging endpoint predicted an overall survival benefit consistent with the primary readout — months before RECIST-style progression endpoints would have delivered the same answer.
The pitch to sponsors is faster go/no-go decisions and better-powered Phase 2 studies. "The faster and more accurately we can determine whether a treatment is truly delivering benefit to patients, the faster our biopharma partners can bring new effective medicines to those who need them," said founder and CEO Felix Baldauf-Lenschen.
Investor Thesis: AI-Native Trial Endpoints
OrbiMed partner Tal Zaks — formerly Moderna's chief medical officer — said Altis "has assembled the industry's most comprehensive longitudinal oncology dataset linking imaging and outcomes to train AI models," while Qiming Venture Partners USA managing partner Anna French argued that "earlier, accurate measurement of efficacy is the most impactful application of AI in drug development." Both firms have doubled down on AI-native diagnostics after the momentum behind partnerships such as ByteDance spin-off Anew Labs's $290M round and Nutshell Therapeutics's Series C1.
What The Money Buys
Altis says the Series A funds three tracks: scaling Nota deployments across Phase 2 and Phase 3 oncology trials, expanding regulatory engagement in the U.S. and Europe, and broadening the platform beyond lung cancer into other solid tumours where imaging biomarkers are already routine. The company is also hiring across ML engineering, clinical operations and regulatory affairs.
The Toronto team was founded in 2020 and remains headquartered in Ontario, giving the Canadian AI-health ecosystem a new commercial-stage anchor alongside European clinical-AI plays that have raised in the same funding window.
Reporting based on Altis Labs's press release via BioSpace and Business Wire (September 17, 2026).