Bioinformatics business GenomeNext has raised a $1.2 million seed funding round to expand commercial and operational capacity and to support product development, according to Co-founder and CEO James Hirmas in a company statement. It is part of a wider trend of companies developing technologies to support precision medicine and to enable population scale genomics.
The technology at the heart of its business was developed at Nationwide Children’s Hospital. It is designed to solve “computational bottlenecks and inherent inaccuracies” of traditional genomic sequence analysis, a company statement said. The goal is to help clinicians and researchers identify rare pathogenic variants.
Canadian investor Hydra Capital led the seed round with participation from private investors. Among the company’s partners are Intel and Amazon.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Bioinformatics has been a growing area of interest, particularly as a way to support research. Among some of the companies active in this segment are SolveBio.
