Microsoft and Google among funders for cloud-based R&D startup
Microsoft and Google kicking have contributed to a new funding round for DNAnexus, a start-up focused on developing cloud-based technology for biomedical informatics and data management.
The tech giants were part of a $58 million financing led by investor Foresite Capital. Existing investors, GV (formerly Google Ventures), TPG Biotech, WuXi NextCode, Claremont Creek Ventures, and MidCap Financial also participated.
DNAnexus wants to increase its presence in the clinical trials market and deploy its Translational Informatics Suite for pharmaceutical and other research organisations.
The company has already launched the Mosaic Microbiome Platform, aimed at increasing understanding of the human microbiome, and an early-access programme for Google Brain’s DeepVariant technology.
It also has separate collaborations with AstraZeneca’s Centre for Genomics Research and Rady Children’s Institute for Genomic Medicine.
DNAnexus, network for genomics and other biomedical data, is used across the world, including in North America, Europe, Asia-Pacific (including China), South America, and Africa.
It is already used by companies, involved in biopharmaceutical and bioagricultural research, as well as by governments and research consortia to accelerate genomics programmes.
Richard Daly, CEO of DNAnexus, said: “The financing enables further development and the launch of our translational medicine solutions, as well as expanding our footprint in cloud-based management of genomic data in clinical trials.”
“The next wave of biomedical insights is coming from cross-institutional collaborations that produce rapidly increasing amounts of multi-omics data. We are proud of our work dedicated to improving how global research and development organisations leverage large biomedical datasets to develop and deliver precision medicine solutions.”
Jim Tananbaum, founder and CEO of Foresite Capital, said: “As the volume of biomedical information continues to increase, the DNAnexus Platform and upcoming product releases catalyse collaboration, data sharing and machine learning on which the development of precision medicine depends. Foresite Capital is pleased to lead this new financing round.”
Foresite has input from investment analysts, doctors, researchers and data scientists, who have championed a collaborative approach to solutions to the world’s health problems.
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