Foresite Capital, a venture capital firm with offices in New York City and San Francisco, led the $58 million in financing with strategic investment from Microsoft. GV, formerly Google Ventures, and TPG Biotech, along with other existing investors, also participated in the fundraising effort.
DNAnexus’ platform provides precision medicine researchers with a global network of genomic and biomedical data, operating in North America, Europe, Asia, South America and Africa.
“The next wave of biomedical insights is coming from cross-institutional collaborations that produce rapidly increasing amounts of multiomics data,” said Richard Daly, CEO of DNAnexus.
DNAnexus officials said they plan on using the funds to encourage and expand use of the company’s platform in the clinical trials market and to deploy its translational informatics suite to pharmaceutical research organizations.
More articles on data analytics & precision medicine:
5 most-read predictive analytics stories of 2017
23andMe launches genomics study focused on diet, exercise
Report: Clinical analytics market to grow 12.5% by 2023
