NEW YORK (GenomeWeb) – Omicia said today that it has completed a $23 million Series B financing round.
Several new investors participated in the round including UPMC Enterprises, Roche Venture Fund, LDV Partners, Ping An Ventures, and a large undisclosed genomics investor. Existing investors Artis Ventures, Acadia Woods Partners, and Buchanan Investments also participated in the financing.
Omicia, based in Oakland, California, will use the proceeds to accelerate product development and expand its sales and marketing operations. In addition, the company plans to extend variations of its flagship Opal Clinical platform for use in new geographies and new verticals, including life science research, clinical trials support, populations health management, and consumer applications.
Omicia's software provides scalable next-generation sequence interpretation and reporting capabilities to drive improved clinical outcomes, and enables users to scale production in a HIPAA-compliant, cloud-enabled environment. The software also leverages a deep variant data warehouse to deliver high-throughput results to assist lab partners with automated diagnostic reporting, the company said.
"With new investment from one of the nation's leading health systems, a premier life sciences company, and China's largest insurance company, we are well positioned to expand our team and extend our technologies, products, and services into new markets," Omicia CEO Matt Tindall said in a statement. "As evidenced by the work we're doing with Genomics England, the world's leading national genome project, Omicia is filling a critical gap between sequencing tools and clinical decision making, delivering on the promise of precision medicine."
Along with competing informatics firm Congenica, Omicia inked a contract last year with Genomics England to interpret genomic data from the first 8,000 patients participating in the UK's 100,000 Genomes Project.