Skip to main content
Premium Trial:

Request an Annual Quote

Genomenon Raises $5.3M in Financing Round

NEW YORK – Genomenon said on Tuesday that it has raised $5.3 million in a financing round.

The Ann Arbor, Michigan-based firm will use the funding to expand its global commercial operations, which serves genetic testing labs, hospitals, pharmaceutical, and biopharma companies. 

New investors include BroadOak Capital Partners, Green Park & Golf Ventures, Red Cedar Ventures, and Michigan Rise. Current investors, including Invest Detroit Ventures, IrishAngels, Michigan Angel Fund, Invest Michigan, and Atain Specialty Insurance, also participated in the round. 

"Better and more comprehensive tools are clearly needed in this space to get patients properly diagnosed and on treatment more quickly," Lauren Tyra, CSO of Green Park & Golf Ventures, said in a statement. "[Genomenon's] ability to match the right patients with next-generation targeted therapeutics quickly and at scale is a significant advantage to current approaches."

Genomenon's Mastermind Genomic Search Engine allows clinicians to index genomic variants from scientific publications to help diagnose patients suffering from rare and genetic diseases. The firm offers a freemium model that it said makes the engine freely available to a broad range of scientists, academics, and clinicians.

Genomenon also said its Genomic Landscapes helps firms to understand genetic drivers and clinical attributes of genetic diseases, which allows them to accelerate target discovery, identify genetic biomarkers for better clinical stratification, and develop companion diagnostics for regulatory approval.

In recent news for the firm, it signed an agreement with BC Platforms in February to integrate the Mastermind engine into BC's products for rare disease diagnostics research.

The Scan

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.