May 20, 2013 | By Ryan McBride
InSilico
Genomics has found seed money to become a player in the growing market
for genomic research software. The company has raised €1.2 million
($1.5 million) to advance its genomics platform, attracting investments from the online payment group Ogone and Foundation Life Sciences Partners, BioInform reported.
A spinoff of the Free University of Brussels, InSilico Genomics
offers academics and industry the ability to compare internal RNA
sequencing data with public datasets, and the startup's platform
supports a host of open-source software tools that enable researchers
to slice and dice their data. As BioInform reports, the
company aims to beef up the security and credentials of the system as
it seeks new business from clinical researchers.
Investors have warmed up to companies in the bioinformatics
business, which is expected to explode as companies seek to wrest
valuable information from Big Data sources such as next-generation
sequencing datasets and vast amounts of electronic patient records. In
the genomics arena, the startup Bina Technologies
recently announced a $6.25 million round for a software-hardware hybrid
offering, and Spiral Genetics snapped up $3 million for a cloud-based
bioinformatics tool.
BCC Research predicted that the bioinformatics market would
skyrocket form $3.2 billion in 2012 to $7.5 billion by 2017, more than
doubling over the course of 5 years. For startups like InSilico, this
provides an opportunity for rapid growth in the coming years. Yet the
field have been swamped with new entrants, and not every one of them
will likely survive.
Post a Comment
Thanks for reading my blog.
Note: only a member of this blog may post a comment.