SeqOne Genomics, a French digital health startup focused on genomic analysis solutions for personalised 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 will go straight into the company’s venture to accelerate machine learning adoption and big data integration with the vision to better support molecular biology labs and biopharma companies. In addition, SeqOne aims to strengthen international sales and develop new genome analysis tools.
WHY IT MATTERS
SeqOne’s cloud-based software solutions for genomic analysis cover the entire process from genetic raw data analysis to complex reporting to clinicians so that treatment outcomes for cancer, rare and hereditary diseases can be enhanced. Genetic screening is another field of deployment.
In addition to hospitals, the genetic analyses can also be used for pharmaceutical environments, such as biopharma companies who are developing new therapies.
The accuracy of genomic testing has risen while turnaround time and cost has decreased.
THE LARGER TREND
Genomic medicine has been on the rise in recent years with patients’ genomic information being used to optimise treatments. So-called New Generation Sequencing (NGS) techniques have, most recently, widened the access for mainstream healthcare as they help to reduce cost for genetic data decoding and level up the volume of useful data which can be obtained.
Medical genetic testing has also entered the space of consumers who want to foresee potential health risks. In October 2021, MobiHealthNews reported the acquisition of 23andme, while US-startup Genetika+ scored $10M for its newly developed test kits for personalised medication.
ON THE RECORD
As CEO and Co-founder of SeqOne, Nicolas Philippe, said: “The funding will give us the resources we need to enhance and commercialise our solution to make genomic analysis more accessible and affordable so that each patient can benefit from personalised medicine recommendations.”
Fabien Collangettes, Director at Omnes, added: “The genomic 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.”