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Genomenon Raises $1.8M in Extended Seed Financing Round

NEW YORK (GenomeWeb) – Genomenon has completed an extended seed financing round, raising $1.8 million from investors including two University of Michigan funds, Michigan Angel Fund, and an angel group formed by Rehmann owners.

Earlier this year, the company announced that it had raised $940,000 in an oversubscribed seed funding round led by the Michigan Angel Fund, with support from Detroit Innovate, Invest Michigan, Three Leaf Ventures, and unnamed private investors. 

Previously, the company raised about $600,000 in funding from grants through the University of Michigan and elsewhere, and won a number of prizes including $100,000 prize from the Accelerate Michigan Innovation Competition. The company had also previously raised $750,000 from angel investors.

Genomenon plans to use the funds to complete and launch Mastermind, its flagship product for analyzing and interpreting variant data. Mastermind helps pathologists and geneticists working in both clinical diagnostics and academic research contexts search through millions of medical publications to find correlations between genes and variants required for clinical diagnosis. Genomenon plans to launch the resource in December.

Last month, the company appointed Mike Klein to the position of CEO. He takes over the position from Mark Kiel who is also one of the co-founders of the company.