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Startup Data Analysis Firm SolveBio Bags $2M

NEW YORK (GenomeWeb) – Startup genomic data analysis firm SolveBio has raised $2 million that it intends to use to hire additional personnel.

The round was led by venture capital firm Andreessen Horowitz. Angel investment firm SV Angel, and individuals Nat Turner, Zach Weinberg, Max Levchin, and Charlie Cheever also participated in the round. In an email to GenomeWeb Daily News, SolveBio Co-Founder and CEO Mark Kaganovich said the funds will be used to hire engineers.

The New York City-based firm aims to provide clinical-grade genomic reference data to hospitals and industry. According to its website, SolveBio has built a system that integrates genomic reference data into diagnostic and research applications. Its product is a set of application programming interfaces for discovering and querying datasets, "which we are deploying to programmers at hospitals, diagnostic companies, and biotech/pharma R&D units."

Kaganovich added that while other firms are focused on interpreting the genome "there aren't other firms working on making it easier for programmers to use biological data. … [W]e are focused on delivering the content necessary for those interpretation applications to work."

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