GenomeNext Raises $1.2MM Seed Round, Groundbreaking Benchmarks Validate Accuracy and Speed
GenomeNext, a Rev1 Ventures client and leader in genomic data management and integrated analysis, announced that it has raised $1.2 million in seed financing in a funding round led by Hydra Capital, a Canadian firm and private investors. Among Hydra Capital’s partners are Amazon and Intel.
GenomeNext is a spinout of Nationwide Children’s Hospital, a Rev1 Innovation Partner. GenomeNext provides a turn-key solution that enables physicians, scientists, and researchers to analyze, organize, and manage genetic data. The startup was showcased at Rev1’s inaugural Demo Day last October. The Columbus-based firm is advancing the trend of population-scale genomics.
“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,” said James Hirmas, CEO and co-founder.
GenomeNext has built a secure platform that removes the computational and capacity constraints that have heretofore limited the translation of biomedical genomics to clinical practice and patient care.
Through the “Intel Heads in the Clouds Challenge on Amazon Web Services (AWS),” GenomeNext bench marked the whole genome sequencing analysis at an unprecedented 1,000 genome samples per day, generating nearly 100 terabytes of processed result files.
Recently, using GenomeNext’s genomic analysis pipeline, Nationwide Children’s was announced as the winner of the CLARITY Undiagnosed Challenge, the second crowd-sourcing competition hosted by the Manton Center for Orphan Disease Research at Boston Children’s and the Department of Biomedical Informatics (DBMI) at Harvard Medical School.
GenomeNext’s software as a service (SaaS) is offered through the company’s website www.genomenext.com. Alternative configurations, including private cloud and custom pipelines are considered upon request.