GenomSys closes a CHF 9.3 million Series A investment round

GenomSys closes a CHF 9.3 million Series A investment round

18.9.2019 – GenomSys, a software company which develops ISO compliant technology for efficient processing and sharing of DNA data, announced it has completed its series A investment round. The company raised CHF 9.3 million in this financing, driven by the accelerating development progress of its MPEG-G-based solution for DNA data processing.

The Series A round was led by Preon Capital, the Geneva-based family office of Jari Ovaskainen, Europe’s 2014 Business Angel of the year. Preon was joined by a group of European and U.S. investors, including the Elysia Capital and Pygar family offices, linked respectively to the founder of the European unicorn Advanced Accelerator Applications and to the multinational diagnostic company Diasorin. U.S.-based investors Dolby Family Ventures and Susman Ventures participated in this financing. Pascal Levensohn, Managing Director of these funds, has joined the GenomSys board of directors.

Founded in 2016, GenomSys has developed technology facilitating access to highly-secured personalized medicine services. Its product portfolio includes solutions to compress, browse, store and share genomic information based on the model of digital media compression and streaming technology.  Decreasing costs of genomic sequencing are enabling DNA analysis to become mainstream, promising wider accessibility for medical professionals to generate new perspectives.  GenomSys’ solutions solve the associated challenges from the ever-increasing data volumes, format proliferation, storage costs and analytic complexity caused by this data explosion.

Based on the newly released ISO MPEG-G Standard, GenomSys’ Software Suite “will bring a dramatic reduction in genomic files’ size, a faster information transfer and more efficient data analysis”, says Claudio Alberti, GenomSys’ co-founder.

As stated by the International Organization for Standardization (ISO), MPEG-G “provides the enabling technology that will allow the community to create an ecosystem of novel, interoperable, solutions in the field of genomic information processing”. MPEG-G will also bring genomic information to personal devices, which will accelerate individuals’ access to personalized medicine, while enforcing strict data-privacy standards.

Source: Press release