NEW YORK (GenomeWeb News) – Cartagenia, a Leuven, Belgium-based firm developing software and database systems for genetic analyses, today said that it has received a capital injection of €2.2 million ($2.9 million).
The company said that it would use the funds to further develop its market presence, open an office in the US, and invest in a new product line.
Cartagenia's Bench platform is a web-based data solution intended to support interpretation of genomic variation in clinical diagnostics. According to the firm's website, the platform helps clinicians quickly and accurately select relevant genetic information that can be used in diagnosis and counseling.
Half of the capital injection came from existing investors PMV/VINNOF, Gemma Frisius Fund, and founders of the firm. The other half was provided by Belgian investment firm Quest for Growth.
"This capital increase will help us strengthen our market presence and accelerate the development of certain products," Cartagenia CEO Herman Verrelst said in a statement. "We are particularly excited about the opportunity to expand our business to supporting clinical genetic diagnosis based on [next-generation sequencing] data. We also want to respond to the growing demand to support prenatal screening and cancer diagnosis."