GenomSys, specialising in ISO compliant technology for the efficient processing and sharing of DNA data, has raised CHF 9.3 million in a Series A investment round led by the Geneva-based family office, Preon Capital Partners, with contribution from various investors from Europe and the U.S. The funds will be used to accelerate the development of its new ISO standard based solution.
Founded in 2016 in Ecublens (VD), GenomSys is developing a new generation of tools and devices to provide access to highly-secured personalized medicine services. The company’s Software Suite based on the newly released «MPEG-G», the new ISO Standard for genomic information representation, enables compressing, browsing, storing and sharing genomic information based on the model of digital media compression and streaming technology.
The decreasing costs of genomic sequencing are enabling DNA analysis to become mainstream, promising wider accessibility for medical professionals to generate new perspectives. GenomSys’ «MPEG-G» will solve the associated challenges from the ever-increasing data volumes, format proliferation, storage costs and analytic complexity caused by this data explosion. According to Claudio Alberti, GenomSys’ co-founder, “MPEG-G will bring a dramatic reduction in genomic files’ size, a faster information transfer and more efficient data analysis.”
The International Organization for Standardization (ISO) also sees the potential of GenomSys’ solution: “MPEG-G provides the enabling technology that will allow the community to create an ecosystem of novel, interoperable, solutions in the field of genomic information processing”.
The technology will also bring genomic information to personal devices, which will accelerate individuals’ access to personalized medicine while enforcing strict data-privacy standards.
A series A round with European and American investors
To accelerate the development process of its technology, GenomSys has obtained fresh capital of CHF 9.3 million in a Series A round led by Preon Capital Partners, the Geneva-based family office of Jari Ovaskainen, Europe’s 2014 Business Angel of the year. Preon was joined by a group of European and U.S. investors, including the Elysia Capital and Pygar family offices, linked respectively to the founder of the European unicorn Advanced Accelerator Applications and to the multinational diagnostic company Diasorin. U.S.-based investors Dolby Family Ventures and Susman Ventures participated in the round.
In line with the investment round, Pascal Levensohn, Director of GenomSys and Managing Director of the funds, has joined the GenomSys board of directors.
(Press release)
Please login or sign up to comment.
Commenting guidelines