Skip to main content
Premium Trial:

Request an Annual Quote

Galileo Genomics Raises $16.5M in Private Financing

NEW YORK, Oct. 10 – Galileo Genomics, a Montreal-based developer of gene discovery technology, has raised $16.5 million in a round of private financing. 

Investissement Desjardins of Montreal was the lead investor, which other European venture capital firms, including BTF of the Netherlands and HBM BioVentures of Switzerland, also participated in the round.

Galileo said in an announcement released Wednesday that it would use the money to look for genes it believes are associated with 25 undisclosed diseases. The company said it would use some 50,000 people from Quebec’s founder population in their efforts to link genes with disease. 

The founder population descended from a group of 2,600 people who arrived in Quebec from France in the seventeenth and eighteenth centuries.

The company, which is planning to donate three per cent of its net profits to a trust fund for the founder population, is also planning to step up efforts to develop its technology platform.

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.