HERZLIYA, Israel & FOSTER CITY, Calif.--(BUSINESS WIRE)--Geneyx Genomex Ltd (Geneyx), an Israel-based developer of a genetic data analysis and interpretation platform, announced today that it has closed its seed round financing led by Capri Ventures and Accenture Ventures to help the company expand its global footprint and accelerate the development of its technology. Geneyx AI-based technology builds on the gold standard in global knowledge bases for interrogating genetic information and leverages AI to improve risk prediction, diagnostic yield, prognostic prediction, and treatment insights supporting clinical decision-making and biopharmaceutical research, helping to accelerate the development of targeted and personalized therapeutics. By providing biomedical interpretation capabilities that better position clinicians and researchers to use the power of whole-genome sequencing, Geneyx is advancing human health.
“The investment from Capri Ventures and Accenture Ventures, will enable our next phase of global growth and expansion in support of patients who desperately need diagnostic answers and treatments for their conditions,” said David Yizhar, Chief Executive Officer at Geneyx. “Our solutions have already been used in more than 100,000 cases across 18 countries and cited in more than 50 peer-reviewed publications. In the next two years, we aim to enable our users to achieve 90 percent diagnostic yield, utilizing whole-genome sequencing for varied medical conditions. And we are getting closer every day.”
The use of next-generation sequencing as an aid in the diagnosis of diseases suspected to have a genetic origin is becoming more common, but reference data are siloed limiting diagnostic yield, and hospital electronic medical record-based data storage prevents biopharmaceutical companies from being able to bring together genomic information with real-time clinical evidence. Geneyx technology bridges this gap.
“The opportunity for better diagnosis and treatments spanning the continuum of health from prediction to prognosis requires more sophisticated tools for collaboration across sectors of the healthcare and biomedical research ecosystem,” said Alex Pinchev, Managing Partner, Chair Investment Committee at Capri Ventures. “Geneyx’s AI-based software solutions have the potential to transform healthcare by enhancing diagnostic and prognostic capabilities across patient populations and democratizing biomedical research.”
Despite an increasing volume of genetic data being generated every year, these data are siloed in hospitals and research institutions around the world. Data analysis and interpretation are equally siloed, hampering our collective understanding of disease biology and the development of more effective therapeutic options.
“We need to improve the treatment-cost equation from the current ways of operating to new ways of discovering, developing, and commercializing treatments,” said Stuart Henderson, Accenture’s global lead of the Life Sciences industry group. “Geneyx is driving a model of collaboration to break down silos in the healthcare ecosystem to support the capture of the genetic data that will benefit each patient in their treatment journey.”
Geneyx also joined Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups like Geneyx harness human creativity and deliver on the promise of their technology. The companies plan to leverage Accenture’s dataset of 55 million de-identified patient electronic medical records to further joint initiatives.
“Diagnosis of rare diseases, like the drug discovery process, can be slow and expensive. Geneyx technology can help clinicians diagnose diseases more quickly, make better predictions about disease prognosis, and most importantly, enable biopharmaceutical companies to speed and diversify drug development programs,” said Tom Lounibos, Managing Director, Accenture Ventures. “We look forward to partnering with Geneyx to capture value across the healthcare continuum.”
For more information about how Geneyx solutions, visit www.geneyx.com.
About Capri Ventures
Capri Ventures is a global venture capital firm with particular focus on Israel. The firm invests in post product companies in the Seed and Series A stages, with exceptional entrepreneurs transforming Enterprise Software and Digital Health. The firm is composed of experienced Software Executives and Operators.
About Geneyx
Geneyx offers a superior NGS data analysis and interpretation platform, harnessing genetic data to guide digital insights for rare and germline disorders. Our AI-based analysis platform streamlines the diagnostics process, from the raw genetic data to the final clinical report. Geneyx develops unique technologies and utilizes diverse databases in the interpretation of WGS (whole-genome sequencing), WES (whole-exome sequencing), and gene panels. For more information visit www.geneyx.com.
