Automated Genomic Analysis Platform GenomeNext Seizes its First Round of Financing
Date: Friday , March 04, 2016
Bioinformatics business firm, GenomeNext LLC secures $1.2 million seed funding led by Hydra Capital and private investors. The freshly capital raised will be used to expand its existing sales infrastructure, marketing initiatives, and integrate innovative tool sets and capabilities.
Elaborating about the plans, James Hirmas, CEO & Co-Founder, GenomeNext, proclaims, \"This funding will enable GenomeNext to expand our commercial and operational capacity, facilitate continued evolution of our genomic analysis platform, and further our commitment to deliver increased value and utility to successfully address the computational and big-data complexities inherent in genomic medicine\".
Chris Drescher, Co-Founder & President, GenomeNext, states, \"We are excited to position GenomeNext as a transformative leader in genomic analysis, leveraging proprietary analytics to accelerate innovation, improve diagnostic accuracy and deliver reproducible, clinically actionable results that effectively drive better genome-guided medicine\".
Based out of Columbus, Ohio, GenomeNext was founded in 2014 by Chris and James. But the computational backbone of the GenomeNext platform was developed at Nationwide Children\'s Hospital. GenomeNext has launched an innovative and powerful bioinformatics pipeline creating a turn-key solution that accurate, reproducible and determinate genomic analysis results, from FASTQ to VCF to annotation in under three hours for whole genomes, under one hour per exome and 30 minutes per panel. GenomeNext\'s genomic analysis platform is offered as a Software as a Service (SaaS) through the company\'s website. Recently, in an industry challenge issued by Intel and AWS, GenomeNext analyzed the whole genomes and exomes of 2,504 individuals sampled across 26 different populations in one week, processing 1,000 samples per day, generating close to 100TB of processed result files.