SeqOne Genomics, a French digital health startup focused on genomics solutions for personalized medicine, has announced a €20 million Series A funding round.
The round was led by Omnes, Merieux Equity Partners and the Software Club.
The investments flow directly into the company’s mission to accelerate machine learning adoption and big data integration with a vision to better serve molecular biology labs and biopharmaceutical companies. In addition, SeqOne wants to strengthen international sales and develop new tools for genome analysis.
WHY IT MATTERS
SeqOne’s cloud-based genomics software solutions cover the entire process from raw genetic data analysis to complex reporting to clinicians to improve patient outcomes in cancer, rare and hereditary diseases. Another field of application is genetic screening.
In addition to hospitals, the genetic analyzes can also be used in pharmaceutical settings, such as for biopharmaceutical companies developing new therapies.
Accuracy of genomic testing has increased while turnaround time and cost have decreased.
THE BIGGER TREND
Genomic medicine has been on the rise in recent years, using patients’ genomic information to optimize treatments. So-called New Generation Sequencing (NGS) techniques have recently expanded access for universal healthcare as they help reduce the cost of decoding genetic data and increase the volume of useful data that can be obtained.
Medical genetic testing has also entered the realm of consumers who want to anticipate potential health risks. in October 2021, Mobile Health News announced the acquisition of 23andme, while US startup Genetika+ raised $10 million for its newly developed personalized drug testing kits.
ON THE RECORD
Nicolas Philippe, CEO and co-founder of SeqOne, said: “The funding will give us the resources we need to improve and commercialize our solution to make genomic analysis more accessible and affordable so that every patient can benefit from personalized medical recommendations can.”
Fabien Collangettes, Director at Omnes, added: “The genomic analysis market is experiencing exponential growth, driven by the needs of personalized medicine. With the rapid increase in available genomically linked treatments, the complexity of treatment interactions, and the staggering amount of biological and medical data that must be considered in every medical decision, biologists and physicians need access to reliable and actionable real-time analysis.”