Bay Area's DNAnexus Scores $58M to Accelerate Expansion
Published: Jan 02, 2018
DNAnexus Announces $58 Million Investment to Accelerate Expansion
Jan. 2, 2018 12:30 UTC
Investment led by Foresite Capital with strategic investment by Microsoft will support expansion in translational informatics, clinical trials, and broadened use of biomedical data
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- DNAnexus, the global leader in biomedical informatics and data management, today announced closing a $58 million financing led by new investor Foresite Capital with strategic investment from Microsoft (NASDAQ: MSFT). Existing investors, GV (formerly Google Ventures), TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial also participated. The company’s pioneering global platform enables a network of enterprises to effectively gain insight from large genomic and biomedical datasets.
“DNAnexus is a true pioneer and trusted brand in cloud-based platforms for research and precision medicine,” said Jim Tananbaum, founder and CEO of Foresite Capital. “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.”
The equity investment supports the company’s continued expansion in the clinical trials market as well as the deployment of the company’s pioneering Translational Informatics Suite for pharmaceutical and other research organizations. Earlier this year, the company launched the Mosaic™ Microbiome Platform to advance methods aimed at increasing the understanding of the human microbiome and an early access program for Google Brain’s DeepVariant technology. The company also announced separate collaborations with AstraZeneca’s Centre for Genomics Research and Rady Children’s Institute for Genomic Medicine.
“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,” said Richard Daly, Chief Executive Officer of DNAnexus. “The next wave of biomedical insights is coming from cross-institutional collaborations that produce rapidly increasing amounts of multi-omics data. We are proud of our work dedicated to improving how global research and development organizations leverage large biomedical datasets to develop and deliver precision medicine solutions.”
DNAnexus, the global leader in biomedical informatics and data management, has created the global network for genomics and other biomedical data, operating in North America, Europe, Asia-Pacific (including China), South America, and Africa. The secure, scalable, and collaborative DNAnexus Platform helps thousands of researchers across a spectrum of industries – biopharmaceutical, bioagricultural, sequencing services, clinical diagnostics, government, and research consortia – accelerate their genomics programs globally. For more information on DNAnexus, please visit www.dnanexus.com or follow the company @DNAnexus.
About Foresite Capital
Foresite Capital is an uncommon mix of investment analysts, MD/PhDs and data scientists who believe that solving the world’s biggest healthcare problems requires a radically collaborative approach, free of arbitrary silos and competition. The company has created an atypical investment firm that funds companies at every part of their lifecycle, from early-stage through public liquidity, because company-building and value creation do not stop at the IPO. With Foresite Capital, portfolio companies get all of the company’s experts and networks at their fingertips, dedicated to their success over multiple decades. The firm is based in San Francisco with an office in New York. For more information, please visit www.foresitecapital.com.
Colin Sanford, 415-946-1094
Source: DNAnexus, Inc.