The healthcare revolution called genomic medicine is here to stay. Joining the bandwagon of startups that are disrupting the industry is the French cloud-based biotech company SeqOne Genomics. The provider of next genomic analysis solutions for personalised medicine has raised €20 million in Series A funding.
The round was led by Omnes, Merieux Equity Partners, together with the Software Club and existing investors Elaia and IRDI Capital Investissement. The new funding brings the total amount raised by the platform since its founding in 2017 to €23 million.
The funding will enable the Montpellier-based startup to accelerate its international sales and develop new collaborative genomic analysis tools to facilitate communication between different disciplines in the medical team to improve patient outcomes in cancer and hereditary disease. The company will intensify investments in the development of its genomic-aware data lake to improve the use of big data and machine learning approaches in genomic analysis.
The cloud-based AI-driven platform is designed for the genomic experts who advise doctors on how to best use genetics to improve patient outcomes. Its primary customers are the hospitals, clinics and medical testing labs that are at the heart of the genomic medicine revolution.
Nicolas Philippe, Co-founder, and CEO of SeqOne Genomics said: “We have closed this round with investors who bring extensive experience in deep tech, healthcare, and biotherapy and who share our vision of building SeqOne into a global leader in personalised medicine. The funding will help us to enhance and commercialise our solution to make genomic analysis more accessible and affordable so that each patient can benefit from personalised medicine recommendations.”
Fabien Collangettes, Director at Omnes said: “The genomics analysis market is experiencing exponential growth driven by the needs of personalised medicine. With the rapid expansion in the available genomic-linked treatments, the complexity of treatment interactions, and the staggering volume of medical data to be factored into each medical decision, biologists and doctors must have access to reliable and actionable analyses in real-time,” stated. “We were particularly impressed by SeqOne’s innovative technological approach enables improved accuracy of the genomic test while reducing turnaround time and cost, thus delivering a key competitive advantage in this fast-growing market.”