SeqOne Genomics, a provider of advanced personalised medicine solutions, has received €20m funding to support the deployment of its genomic medicine platform.
Led by Omnes and Merieux Equity Partners, the Series A funding round saw participation from the Software Club and existing investors Elaia and IRDI Capital Investissement.
The company intends to use the finding proceeds to advance the global sales and development of its collaborative genomic analysis tools for cancer and hereditary disease.
It would invest in the development of its genomic-aware data lake to improve the use of big data and machine learning approaches in genomic analysis.
The approach aims to address the evolving needs of molecular biology labs that provide genomic analysis and biopharma companies that develop new therapies, said SeqOne.
The current funding round brings the company’s total investment to €23m.
Omnes director Fabien Collangettes 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 biological and medical data to be factored into each medical decision, biologists and doctors must have access to reliable and actionable analyses in real-time.
“We were particularly impressed by SeqOne’s innovative technological approach that enables improved accuracy of genomic test while reducing turnaround time and cost, thus delivering a key competitive advantage in this fast-growing market.”
SeqOne Genomics is engaged in providing high performance genomic analysis solutions for the development of new therapies in cancer, rare and hereditary diseases.
According to the company, its cloud-based solution is designed to manage the complete genomic analysis process from raw data to final report presented to clinicians.
It leverages machine learning technology and the company’s unique GeniOS genomics operating system to reduce turnaround times and costs of personalised medicine.
The end-to-end approach of the solution would offer enhanced analytic performance, high levels of traceability and improved operational efficiency, said SeqOne.
Also, the solution has already been adopted by several hospitals, central labs and biopharma firms, along with new partnerships with genomics companies.
Furthermore, the company, which currently employs more than 40 employees, plans to double its workforce within a year to execute its strategic plans.
SeqOne Genomics co-founder and CEO Nicolas Philippe said: “We are extremely happy to have closed this round with leading investors who bring extensive experience in deep-tech, healthcare and biotherapy and who share our vision of building SeqOne into a global leader in personalized medicine.
“The funding will give us the resources we need to enhance and commercialize our solution to make genomic analysis more accessible and affordable so that each patient can benefit from personalized medicine recommandations.”
