London, England, 13th September 2017
SOPHiA GENETICS, one of the world’s foremost companies in the field of applying artificial intelligence to genomic analysis, has raised $30 million in funding from UK-based venture capital fund Balderton Capital. Balderton Capital is joined in the latest funding round by 360o Capital Partners and previous investors including British tech star Mike Lynch’s Invoke Capital and Alychlo, started by Mark Coucke, the Belgian pharmaceutical entrepreneur.
SOPHiA GENETICS was founded in 2011 by experts from Stanford University and Switzerland to pioneer the fast-emerging field of Data-Driven Medicine. The company combines expertise in genomics, bioinformatics, artificial intelligence and data privacy. The company’s artificial intelligence, SOPHiA, accelerates diagnostics in oncology, hereditary cancer, metabolic disorders, paediatrics and cardiology through Next Generation DNA Sequencing (NGS).
The company provides a universal solution which hospitals anywhere in the world can use to analyse data created by a Next-Generation DNA Sequencer (NGS). To date more than 330 hospitals in 53 countries are using SOPHiA GENETICS’ Software-as-a-Service platform, SOPHiA DDM, to diagnose more than 8,000 patients per month. The more genomic profiles SOPHiA AI analyses the smarter the AI becomes enabling faster and better diagnosis results.
The field of genomics is exploding, with hundreds of genomic diagnostics now available to identify everything from rare hereditary diseases to diabetes, and the power of NGS sequencers improving quicker than Moore’s law. However, the way that doctors perform a diagnosis has barely changed. Many hospitals rely on either under-supported open source software or build expensive in-house bioinformatics teams. SOPHiA AI is compatible with all sequencing technologies currently in use.
SOPHiA GENETICS recently entered the nascent field of liquid biopsies, with an app that interprets circulating tumour DNA and circulating tumour cells in blood, urine, cerebral spinal fluid and other liquid samples. Leveraging the analytical power of SOPHiA with this pioneering technology, doctors can make earlier diagnoses, leading to better treatment decisions. They can also monitor the efficacy of cancer treatments without having to wait months to see changes in imaging scans.
"SOPHiA GENETICS is a company at the forefront of two rapidly changing technologies: genomic medicine and artificial intelligence," said James Wise, the partner at Balderton leading the investment. "By giving every healthcare professional a standardized, straightforward and fast way to analyze these complex data sets is an essential step to unlock the potential of Data-Driven Medicine. As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics, just as Windows did for PCs and Android has for smartphones, and SOPHiA GENETICS is already leading in this field."
We believe that there is an opportunity to build the defining software layer on top of technologies in genomics, just as Windows did for PCs and Android has for smartphones, and SOPHiA GENETICS is already leading in this field.
The company’s Chief Executive Officer Dr. Jurgi Camblong has made clear that wherever in the world a physician needs supplementary data to make a diagnostic decision, SOPHiA GENETICS’ AI-powered platform will be there to help.
"Since inception, our vision has been to develop innovative technological solutions to help patients, equally wherever they live. SOPHiA acts as a real disruptor by breaking down the information silos in healthcare, meaning that the information from a patient in London or Paris can for instance help better diagnose and treat a patient in Lagos or Rio." Dr. Jurgi Camblong, CEO and Co-Founder of SOPHiA GENETICS.
Since inception, our vision has been to develop innovative technological solutions to help patients, equally, wherever they live.
To date, SOPHiA AI is being used across the world, and has tested over 125,000 patients. SOPHiA GENETICS’ contribution to the field of clinical genomics was recently recognized by the MIT Technology Review’s “50 Smartest Companies” who ranked the company thirtieth in the world. With more and more hospitals adopting SOPHiA AI the company is building the world’s largest clinical genomics community, enabling hundreds of institutions to share their findings and knowledge while ensuring data privacy.
In the United Kingdom SOPHiA AI is being used by nine leading hospitals and institutions in the field of genomic medicine including St. George’s Hospital in London, Oxford University Hospital, Newcastle Medical Genetics, Aberdeen Medical Genetics, Liverpool Women’s NHS Foundation Trust and NewGene (the Northern Genetics Service). This new round of funding enables SOPHiA GENETICS to continue its journey of democratizing Data-Driven Medicine worldwide. The company will use these resources to further develop its cutting-edge technology. It will also be used to continue recruiting top talent and accelerate hospitals’ adoption of clinical genomics testing, no matter if they are equipped (NGS lab) or not.
The company’s dedicated team who develops SOPHiA is driven to help clinicians provide the best diagnosis and treatment options that save lives. In the near future, each medical interaction will start with a genomic test corroborated with other patients’ health records. This “Real Time Epidemiology” is paving the way for the new era of efficient personalized medicine and SOPHiA is at the forefront of facilitating this deployment.
Balderton Capital: is one of the largest venture capital firms in Europe, focused on investing in the best European technology companies at Series A. Based in London, the firm manages $2.3bn. Since 2000, Balderton has invested in over 100 companies, principally across Europe. Notable investments include Talend (open-source data integration provider, went public on Nasdaq in 2016); Magic Pony Technologies (acquired by Twitter in 2016); NaturalMotion (the mobile gaming developer, sold to Zynga in 2014); Betfair (the online betting exchange, 2010 IPO; LOVEFiLM (the home entertainment subscription service, sold to Amazon in 2011); MySQL, (the open-source database software, sold to Sun Microsystems in 2008); and YOOX Group (the online retailer of leading fashion brands, IPO in 2009). The current portfolio includes companies such as 3D Hubs, Citymapper, Kobalt Music, Prodigy Finance, Qubit, Scytl, ROLI, Talend, and The Hut Group.
About SOPHiA GENETICS
SOPHiA GENETICS: global leader in Data-Driven Medicine, SOPHiA GENETICS is a health tech company which has developed SOPHiA AI, the most advanced technology for clinical genomics, helping healthcare professionals better diagnose and treat patients. The global network of 334 institutions from 53 countries that use the SOPHiA DDM® analytical platform powered by SOPHiA form the world’s largest clinical genomics community. By enabling the rapid adoption of genomic testing worldwide, turning data into actionable clinical insights, and sharing knowledge through its community, SOPHiA GENETICS is democratizing Data-Driven Medicine to save lives. More info: http://www.sophiagenetics.com
SOPHiA GENETICS is on Twitter, follow @SOPHiAGENETICS |
For media and journalist inquiries, please contact the SOPHiA GENETICS media relations team by either email: [email protected] or telephone: +41 79 378 1543.
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