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Pine Biotech Raises $1M

NEW YORK (GenomeWeb) – Pine Biotech announced today that it has raised $1,025,000 million in angel seed funding.

The New Orleans-based startup, which was incorporated in 2014, is commercializing a biomedical data analysis and machine learning platform, in collaboration with the Tauber Bioinformatics Research Center and the University of Haifa. The money Pine Biotech has raised will be used to develop and commercialize the platform, which is designed for the analysis of large genomic, transcriptomic, proteomic, structural, and phenotypic datasets.

The machine learning platform utilizes algorithms developed over years of research and trained in many academic projects, the firm added. It also includes a machine learning toolkit and interactive visualization.

"By enabling researchers and clinicians to extract real insight from omics data, we hope that new and more effective approaches to diagnostics and therapeutics will be developed," Pine Biotech CEO Elia Brodsky said in a statement.