Gene mapping outfit BioNano Genomics is hoping to set itself apart in the personalized medicine market, where a number of gene sequencing competitors are lining up. To help it get its technology to patients, the San Diego-based company has raised $68.4 million in a series C financing round, according to a regulatory filing.
President Barack Obama is asking Congress for $215 million to sequence the genomes of 1 million Americans and help develop a new generation of medicines, part of a sweeping plan to accelerate biomedical R&D.
President Barack Obama's plot to bolster personalized medicine research would lean heavily on a planned bank of patient genetic information, Science magazine reports, pooling existing databases to create a huge R&D utility. But the promise of a so-called Precision Medicine Initiative has left some scientists cold, hearkening back to overblown efforts past.
Speaking before a global audience of millions, President Barack Obama threw his support behind the potential of personalized medicine, skimping on details but hinting at a federally funded R&D effort in keeping with the $4.5 billion BRAIN Initiative.
Alongside the launch of a next generation sequencing-based oncology assay, Silicon Valley Biosystems is also rolling out a new name to reflect its mission of providing practical genetic information to patients.
LabCorp said it will pay more than $85 million in cash for LipoScience in a bid to grow its own roster of personalized diagnostic tests. The deal, which breaks down to $5.25 per share, is yet another sign that personalized medicine is becoming more ubiquitous in the marketplace.
The National Cancer Institute has launched a three to four year broad-based study of exceptional responders--patients who have had particularly good outcomes on cancer therapies as compared to their peers. The initiative was first considered a few years ago when it started to become easier to determine the molecular basis of why a particular patient's cancer responds to a molecularly targeted drug, but it is only being undertaken now.
Startup GeneCentric Diagnostics pulled in $5 million in new Series A financing, according to reports from The Herald-Sun and Dow Jones VentureWire, among other media organizations. The money will help the North Carolina startup advance further development of gene-based diagnostic products designed to enable personalized treatments.
First there were digital clocks, then digital computers, and now digital medicines. Fierce 15 member Proteus Digital Health raised $120 million in its latest round of funding, the company announced June 2. The round of financing consists of "major institutional investors" from the U.S., Europe and Asia.
Roche's Ventana Medical Systems will work with Denmark's Genmab to come up with a companion diagnostic test to be paired with a targeted anticancer drug now in development.