GenomeNext raises $1.2 million in seed funds
March 7, 2016 – COLUMBUS. GenomeNext, LLC, a leader in genomic data management and integrated analysis, announced today that it has raised $1.2 million in seed financing in a funding round led by Hydra Capital and private investors.
GenomeNext has developed and launched an innovative and powerful bioinformatic pipeline creating an integrated, turn-key solution that delivers unequaled results enabling researchers and clinicians to effectively analyze, organize and manage genetic data.
The computational backbone of the GenomeNext platform was developed at Nationwide Children’s Hospital and employs proprietary methods that specifically overcome the computational bottlenecks and inherent inaccuracies offered by traditional genomic sequence analysis methods, resulting in increased speeds, sensitivity and specificity, decreased costs, ultimately delivering unparalleled results that are both deterministic and reproducible.
GenomeNext recently benchmarked a groundbreaking timeframe for the analysis of a massive quantity of genomic data demonstrating population-scale capability. Through an industry challenge issued by Intel and AWS, GenomeNext analyzed the whole genomes and exomes of 2,504 individuals sampled across 26 different populations in one week, processing 1,000 samples per day, generating close to 100TB of processed result files.
GenomeNext’s genomic analysis pipeline recently outperformed 21 leading organizations from around the world driving Nationwide Children’s Hospital’s efforts to win the CLARITY Undiagnosed Challenge, ultimately delivering the most accurate and clinically actionable genetic data.
GenomeNext’s automated genomic analysis informatics and enterprise cloud platform have been integrated and validated in both clinical laboratory services and clinical research initiatives powering complex genomic analysis in a secure and compliant environment delivering the most accurate and reproducible results essential for making confident, informed decisions.
“We are excited to position GenomeNext as a transformative leader in genomic analysis, leveraging proprietary analytics to accelerate innovation, improve diagnostic accuracy and deliver reproducible, clinically actionable results that effectively drive better genome-guided medicine,” said Chris Drescher, GenomeNext Co-founder and President.
The firm said it plans to expand its existing sales infrastructure, marketing initiatives, and integrate innovative tool sets and capabilities. James Hirmas, CEO and Co-founder announced “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.”