Syapse, a healthcare data analytics company that helps health systems crunch and analyze genomics data and clinical data to support treatment decisions has closed a Series B round. It will go toward expanding the company’s sales and marketing muscle and advance clinical development.
Safeguard Scientifics led the $10 million Series B round, and an earlier investor, Social + Capital Partnership, a venture fund launched by former Facebook Vice President Chamath Palihapitiya, also participated, according to a company statement. It follows a Series A round raised last year and brings the total amount raised to $14.5 million.
The company’s platform integrates data from electronic medical records, molecular testing labs, imaging and billing systems, and is agnostic to the data source or system, according to its website. Clinicians use the information it generates as part of the conclusions they form on diagnoses and treatment.
The use of big data platforms to access siloed data and develop a better understanding of the best treatment options for each patient has been a growing source, particularly in cancer treatment.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Toward the end of last year it rolled out a platform for laboratories called Syapse for Labs to help labs order tests online, automatically generate reports, update reports with new information, and approve and deliver them.
Syapse has worked on collaborative partnerships to help grow the company. One example is Intermountain Cancer Genomics. The collaboration involves providing a comprehensive service for oncologists that involves tumor genome profiling, personalized treatment planning and drug procurement.
Earlier this year, it partnered with N-of-One, a precision medicine company that matches patient-specific tumor molecular profiling data with diagnostic technologies and therapeutic options. It will make N-of-One clinical interpretations available to hospitals and laboratories through an interface in the Syapse platform.
