Biomedical informatics and data management firm DNAnexus Inc has secured $58 million in a financing round led by new investor Foresite Capital with participation from Microsoft and GV (formerly Google Ventures).
Other existing investors who participated in the round include TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial, the California-headquartered startup announced in a press release.
DNAnexus operates in North America, Europe, Asia-Pacific (including China), South America, and Africa.
DNAnexus owns a cloud-based platform that enables clients to glean new insights from large genomic and biomedical datasets. The platform is designed for researchers in various industries, such as clinical diagnostics, biopharma, bioagriculture and government.
“As the volume of biomedical information continues to increase, the DNAnexus Platform and upcoming product releases catalyze collaboration, data sharing and machine learning on which the development of precision medicine depends,” said Jim Tananbaum, founder and CEO of the New York-based Foresite Capital.
The equity investment supports the company’s continued expansion in the clinical trials market as well as the deployment of its Translational Informatics Suite for pharmaceutical and other research organizations.
“The financing enables further development and the launch of our translational medicine solutions, as well as expanding our footprint in cloud-based management of genomic data in clinical trials,” said Richard Daly, CEO of DNAnexus.