Cambridge-based OutSee has secured £1.8 million in seed funding. The company has previously received over £500,000 in precision medicine grants from Innovate UK to support technology extensions and to test their application on dementia case studies.
OutSee is a genomics and drug discovery company pioneering a unique AI-based predictive genomics approach to target discovery.
OutSee’s proprietary Nomaly technology predicts disease and phenotype ab initio directly from a single genome. Unlike other methods commonly used for target discovery, the AI-powered engine uses hypothesis-free, predictive modelling to draw conclusions from the fundamental molecular and cellular biology of the genome, rather than by pattern-matching known genetic associations.
This unique ‘genomics first’ approach enables Nomaly to complement existing target discovery pipelines, uncovering underlying biological mechanisms that drive and modulate disease.
Dr Julian Gough, CEO and Founder of OutSee, commented:
OutSee’s Nomaly technology is a truly next-generation genomic analysis tool with the potential to transform drug discovery using powerful data-driven insights. It allows us to interrogate smaller datasets, and even data that has already been analysed, to uncover unique target insights that until now would have remained undetected. I would like to thank our investors, whose support in this endeavour will be crucial in allowing us to build out our in-house target identification program and establish new collaborative partnerships, and to our team for their continued hard work and dedication.
Nomaly can be applied to small datasets, or to unlock new, actionable insights from data that has already been analysed, helping to advance therapeutic discovery and development. The technology has been developed for use across a broad range of application areas, with OutSee’s in-house program initially focused on CNS, rare and metabolic disease.
Dr Paul Wallace, Chair, OutSee, said:
I would like to thank our investors and partners for their support and for their confidence in our mission to drive therapeutic discovery through our pioneering, genetics-first predictive genomics approach. This funding will enable us to leverage the full potential of Nomaly to uncover new therapeutic targets and bolster our in-house pipeline. We remain open to additional investment opportunities, and welcome enquiries from interested pharma and biotech industry partners.
The round was led by Ahren Innovation Capital and with additional investment from Kadmos Capital, Empirical Ventures and Panacea Ventures.
Dr Johnathan Matlock, Co-Founder and General Partner, Empirical Ventures, said:
At Empirical Ventures, we’re seeking out companies that push beyond the boundaries of conventional methods in their fields to significantly enhance the real-world impact of these industries. It’s for this reason that we are delighted to be supporting the team at Outsee as it advances a solution that will unlock the future of target ID for drug discovery. The entrepreneurial drive and deep expertise of the team, under Julian’s leadership, position Outsee at the forefront of this important progress in the drug discovery industry, with its work capable of redefining the treatment of patients suffering from devastating diseases.
Dr. Joanna Green, Principal at Ahren Innovation Capital, expressed strong confidence in OutSee’s approach, highlighting that its genomics-first methodology offers capabilities far beyond current technologies. She added:
Nomaly has great potential to unlock a deeper understanding of genomic data, discover new therapeutic targets and drive the development of next-generation treatments for the entire spectrum of human disease. I look forward to seeing OutSee’s continued growth and success, and to working closely with Julian and the team to support them through this journey.
The funds will help drive OutSee’s next phase of growth, focusing on expanding its in-house target discovery efforts and forming strategic partnerships with leading pharmaceutical and biotech companies.
Lead image: OutSee team | Photo: Uncredited
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