NEW YORK (GenomeWeb) – Computational genomics startup Phosphorus announced today that it has raised $10 million in a Series A round of financing.
The round was led by FirstMark Capital, and included Phosphorus founders and undisclosed angel investors.
Phosphorus was established earlier this year by Alexander Bisignano and Santiago Munne — the co-founders of reproductive genetics firm Recombine, which was acquired in May by CooperSurgical in a deal valued at $85 million — to build a genomic data network for healthcare providers, researchers, and patients. It also offers two genetic tests: HeartMap, which is designed to identify patients with a predisposition for sudden cardiac death due to cadiomyopathies and arrhythmias, and LipidMap, which tests for familial hypercholesterolemia.
The New York City-based company said it would use the proceeds of the financing to hire new computer scientists, engineers, and geneticists, as well as to support the development of new clinical tests and software.
"We have built Phosphorus as the hub of a new computational biology network," Bisignano said in a statement. "Our goal is to build a platform that enables labs across the world to easily offer the most advanced genetic tests, all while connecting within an ecosystem that becomes smarter and facilitates more accurate patient diagnosis as it grows."