NEW YORK (GenomeWeb News) — GNS Healthcare has reeled in $10 million in financing that it will use to expand its data analytic business more broadly across the healthcare industry.
The series B financing included participation from previous investor Cambia Health Solutions and from California's Heritage Provider Network and Mitsui and Co., Cambridge, Mass.-based GNS Healthcare said yesterday.
The company uses big data analytics to develop models and products for predicting the effects that health interventions will have for individual patients. Pharmaceutical firms, health plans, and providers use these models to discover biomarkers that predict patient responses to medications, predict individual and population risks and costs, and provide comparative-effectiveness analysis.
"The market potential for big data is huge, as it will radically change how we develop, pay for, and utilize therapies and other interventions for patients," Masahiro Moriyasu, senior VP at Mitsui USA, said in a statement.
GNS Healthcare's REFS platform is a supercomputer-enabled framework that "automates the discovery of causal models from observational and experimental data and uses high-throughput simulations to generate new knowledge," the company said.