DNAnexus secures $58m to expand platform in clinical trials market
The California-based company provides a cloud-based data analysis and management platform for DNA sequence data.
The investment was led by Foresite Capital with strategic investment by Microsoft and will support expansion in translational informatics, clinical trials, and increased use of biomedical data, according to the company.
DNAnexus’ existing investors, which include GV (formerly Google Ventures), TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial, also participated.
“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,” said Jim Tananbaum, founder and CEO of Foresite Capital in a press release.
Richard Daly, chief executive officer (CEO) of DNAnexus, said the financing will enable further development and the launch of the company’s translational medicine solutions. The funds will also be used to expand DNAnexus’ footprint in the cloud-based management of genomic data in clinical trials, he said.
The company did not respond to a request for comment.
Pharma collaboration
In June of last year, the company also launched Mosaic Microbiome Platform in collaboration with Janssen Research & Development.
According to the company, the platform provides a secure environment for scientists to collaborate on research, share data, and advance methods aimed at increasing understanding of the human microbiome.
DNAnexus also has separate collaborations with AstraZeneca’s Centre for Genomics Research and Rady Children’s Institute for Genomic Medicine.
