DNAnexus, which offers a cloud platform for governments, universities, medical professionals, and pharmaceutical companies to use DNA and other medical datasets and collaborate on scientific research tasks, is today revealing a big step ahead in its efforts to grow its reach and purpose. The 10 year-old startup, originally spun out of Stanford’s
school of medication, has actually raised$100 million in financing. The round, technically a Series G, is being co-led by Perceptive Advisors and Northpond Ventures (both expert science and biotech investors), with participation also from previous backers GV (which has actually been around given that practically the beginning), Foresite Capital, TPG Capital, and First Round Capital. DNAnexus is also getting a brand-new tactical backer in this round: Regeneron Pharmaceuticals– one of several companies currently working on antibody treatments for COVID-19 recovery. The concept will be to utilize the financing to continue building out that platform and the use cases around it, particularly as research has actually boomed around the current coronavirus global health pandemic.
“This financing drives development of our information science innovations benefiting our rapidly growing client base,” said Richard Daly, Ceo at DNAnexus, in a declaration. “The next wave of biomedical insights and treatments will be driven by large-scale scientific, multi-omics, and real life information resulting from cross- institutional collaborations. Our consumers have actually continued to grow throughout the existing COVID-19 epidemic utilizing the virtual cloud work space we offer. The pattern towards cloud-based information analysis and collaboration is speeding up, and we are at the right location at the right time to future-proof and serve our customers.”
PitchBook information. It’s not disclosing a valuation however we’re asking. As some markers of where it’s sitting as a business, nevertheless, a spokesperson says that the platform is utilized by 8 of the top 10 scientific diagnostics business and 7 of the world’s biggest pharmaceutical companies, which use 10 million core processing hours each month and store 28 petabytes of data, a figure that has actually grown 70% each year in the last 4 years.
It’s likewise tattooed some extremely notable partners. They include the UK Biobank– an academic-run information trove based upon medical and genomic data from some 500,000 volunteer participants, for which DNAnexus provides an interface to query the data more quickly. And it is working with federal government groups like the Food and Drug Administration to assistance it run a database it utilizes to work and collaborate with other companies to help track genomic variation, an important component of DNA-based medical research study.
It’s been rocky road for DNA and how it’s seen by consumers in the last few years. As soon as held up as a type of Rosetta Stone to respond to all the inscrutable questions we have actually ever had about how our bodies work, where we originate from, and who really did it, business that offer DNA data to average people have more recently remained in the spotlight over concerns of ethics and information personal privacy. As a service, it likewise seems like a few of the more prominent names in the space have actually discovered interest in the location waning. DNAnexus sits adjacent but likewise rather different from those currents. The company definitely got its start around the time that others like 23andme were popularising the concept of democratising DNA info, but it has always had its roots in the more arcane however likewise more major side of the DNA business and its difficulties: how best to query and wrangle what are basically large and unwieldy datasets in order to glean actionable insights. It’s also more than almost DNA, working with other big and typically disorganized clinical datasets to help others in the field utilize the information more smartly and with the right privacy compliance in place( which is another type of “intelligent “usage of data ), part of a bigger pattern to develop medicines that are more attuned to people instead of one-size-fits-all solutions that typically fizzle, particularly in complicated pathology, such as cancer care. Taking advantage of AI to build out treatments, it is among the more cutting-edge, but also lucrative, areas in medicine today.”The Precision Medication market is poised to surpass$119 billion by 2026. Many medical centers and pharmaceutical business are adopting techniques rooted in human genes since evidence shows that the chances of a drug’s clinical success doubles if connected with specific biomarkers,”stated Michael Rubin, M.D., Ph.D, Founder and CEO of Northpond Ventures, in a statement.”Providing the environment with
a tool to analyze and acquire insights from all these massive datasets is a hard undertaking. DNAnexus has a proven product that scales.”Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.