We’re very pleased to announce our recent fundraising round, led by OliveTree Ventures.
Although sequencing costs are below $1000, interpretation is still a major bottleneck to widespread adoption of NGS testing and that’s where we’re focusing our efforts.
Here’s the full press announcement, detailing the whys and hows:
February 19th, 2019, Palo Alto, California — Emedgene, the world’s first completely automated genetic interpretation platform, raises a $6 million dollar round led by health-focused OliveTree Ventures, to scale genomics-based care with AI.
Personal, genetics-based medicine is poised to be the next revolution in patient care. Genetic testing is advancing at breakthrough speed, with tens of thousands of new findings published every year, and millions of additional tests performed.
This rise in genomics-based medicine is putting tremendous pressure on geneticists globally – who must analyze and interpret each test. It is a costly, labor-intensive process that is the main bottleneck to growth.
Emedgene provides solutions that interpret genetic tests automatically, helping geneticists manage their growing workload faster and with higher accuracy. This is achieved with an AI engine that has learned to perform genomics research, after training with millions of data points from patient cases, databases, and the most recent genomics publications.
Emedgene’s decision support platform can pinpoint causative genetic variants along with supporting evidence for exome, genome, and panels, in diverse applications such as rare disease identification, healthy population screening, carrier screening, and pharmacogenomics. Using Emedgene, health organizations can improve patient outcomes by offering personalized care throughout a patient’s life.
“Genetic medicine will inevitably become the medical standard of care, if we can remove the hurdles to wider adoption. Emedgene does just that, with AI that can surface scientific knowledge in clinical settings, so that every patient has access to the best possible care,” says Einat Metzer, Emedgene’s CEO. Emedgene is being used by leading health organizations including Israel’s MoH 100K Genome Project and dozens of customers worldwide.
“OliveTree Ventures is focused on companies with strong technological advantage, in markets under disruption, that can scale to large populations. Genetic testing and discovery are clearly undergoing rapid growth, and Emedgene has a game-changing solution rooted in a combination of technology and science. We’re excited to support the team in making personalized care a reality,” says Amir Lahat, General Partner at Olive Tree Ventures.
Emedgene will use the funds to expand sales operations in the US.