DNAnexus Scores $58M in Financing Round from Microsoft and GV
The global leader in biomedical informatics and data management, California-based DNAnexus, has now announced the completion of a $58 million round of venture capital.
The round was led by new investor Foresite Capital with strategic investment from Microsoft and existing investors GV (formerly Google Ventures), TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial.
DNAnexus said the money will help the firm expand its presence in clinical trials and to roll out its technology, including the Mosaic microbiome research platform and the CloudSeq set of informatics tools to support Illumina NovaSeq next-gen sequencing systems.
“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,” DNAnexus CEO Richard Daly said in a statement. “The next wave of biomedical insights is coming from cross-institutional collaborations that produce rapidly increasing amounts of multi-omics data.”
“As the volume of biomedical information continues to increase, the DNAnexus Platform and upcoming product releases catalyze collaboration, data sharing and machine learning on which the development of precision medicine depends. Foresite Capital is pleased to lead this new financing round,” said Jim Tananbaum, founder
and CEO of Foresite Capital.Earlier this year, DNAnexus launched the Mosaic Microbiome Platform, which aims to advance methods that seek to increase understanding of the human microbiome, and an early access program for Google Brain’s DeepVariant machine-learning technology. In May, AstraZeneca plc selected DNAnexus’ cloud-based platform for the pharma’s Centre for Genomics Research, which aims to analyze over 2 million genomes in the next 10 years to inform drug discovery and development, and to help understand the underlying cause of disease.
