NEW YORK – Geneyx Genomex said Monday that it has acquired Toldot Genetics.
Geneyx acquired Toldot from biomedical informatics firm BATM Advanced Communications and several minority shareholders, who in return received a 5 percent equity stake in Geneyx. Additional terms of the deal were not disclosed.
Geneyx, an Israel-based developer of genomic analysis and interpretation software, will integrate Toldot's TGex next-generation sequencing analysis technology into its own platform. The Geneyx system provides artificial intelligence-based processing, with help from LifeMap Sciences' GeneCards knowledgebase.
As part of the acquisition, former Toldot CEO Dvir Dahary has become chief scientist of Geneyx. "Geneyx's technology provides biomedical interpretation capabilities for more than 18 percent of the genome … which enables researchers to better leverage the power of whole-genome sequencing data for better clinical diagnosis and for distilling novel findings that will lead to the development of the next generation of targeted and personalized therapeutics," Dahary said in a statement.
"Too much of the genetic data generated today is sitting in 'silos' in hospitals around the world, and this data can be better used by researchers for drug discovery and novel therapeutics, " added Geneyx Chief Marketing Officer Raviv Ithaki. "By offering hospitals with better diagnostic solutions, and pharma with a targeted and sophisticated research platform, we will offer better care for patients with precise and preventive medicine."
Geneyx and BATM are part of a public-private consortium in Israel that is collecting samples and sequencing genomes from thousands of COVID-19 patients in an effort to identify protective and risk-bearing genetic factors with the hopes of discovering new diagnostic and treatment methods for the novel disease.