We are delighted to congratulate SOPHiA GENETICS on its IPO on NASDAQ ($SOPH) making it Europe's latest unicorn to go public.
SOPHiA GENETICS offers a cloud-based Software-as-a-Service platform — the SOPHiA DDM™ platform — that enables healthcare institutions to get quick, robust insights from their data. The company applies their technology to diseases such as cancer and inherited disorders, where combining genomic and phenotypic information is vital to support discoveries, treatment decisions, and drug development efforts. Today, the company works with customers from over 780 institutions in over 70 countries.
Balderton first invested in SOPHiA GENETICS in 2017 when we led the company's Series B, and we invested again in 2018.
James Wise said at the time of our first investment: "We believe that there is an opportunity to build the defining software layer on top of technologies in genomics. Sophia combines the best parts of a SaaS tool for difficult workflows, with the power of machine learning on huge datasets, with an active community of clinicians using the technology to improve outcomes, provide better diagnosis and save lives."
He shared his excitement about SOPHiA GENETICS in a Medium post at the time of our first investment: "Why we’ve invested in SOPHiA GENETICS ( and why the world is obsessed with your genome)"
Following the IPO, James has stepped down as a board member and will be replaced by Kathy L. Hibbs. Kathy is an accomplished healthcare technology executive, and is currently the Chief Legal and Regulatory Officer at the consumer genetics company 23andMe
You can read more about the news on Sophia's site here.
We’re at a technological tipping point, where widely available software platforms like SOPHiA GENETICS can provide huge improvements in our efforts to diagnose and treat disease. SOPHiA's decentralised model and advanced machine learning techniques has made genomic and epigenetic analysis more effective, affordable and accessible to 100,000s of patients. It’s been an absolute privilege to work with Jurgi and his team to get the company to this point, and we’re excited for their future.
