The French company SeqOne Genomics has raised €20M in a Series A round as growing investments reach startups delivering the next generation of genomics and bioinformatics.
The cost of sequencing the human genome has plummeted over the decades to less than €900 ($1,000) today. Partly thanks to advances in cloud computing, innovations are flourishing in the bioinformatics space that could have applications in drug discovery and personalized medicine.
The €197M initial public offering of the Swiss firm SOPHiA Genetics in July last year showcased the growth potential for European bioinformatics firms. Over the last several months, there has been a steady stream of venture funding rounds going to startups working in bioinformatics, including Depixus in France and Lifebit in the UK.
According to Jean-Marc Holder, Chief Strategic Officer of the French firm SeqOne Genomics, SOPHiA Genetics’ IPO “clearly showed the importance and potential of genomic medicine and the value that could be placed on successful companies.” He added that it focused investor interest in the space and shone a spotlight on other promising companies.
This week, SeqOne Genomics raised a €20M Series A round to finance the development of cloud-based software to help hospitals and pharmaceutical companies carry out genomic analyses. The technology is designed to speed up the adoption of personalized approaches for patients with cancer and genetic diseases.
Original Article: labiotech.eu