NEW YORK – Clinical whole-genome analysis firm MyOme said on Tuesday that it has raised $23 million in an oversubscribed Series B funding round.
The round, led by Healthcare Venture Partners, brings the firm’s total raised to date to more than $36 million.
The Menlo Park, California-based company plans to use the funds to begin commercializing its whole-genome analysis platform technology and clinical reports for health systems.
"The investment will fund multiple product launches that leverage MyOme’s whole-genome analysis platform to address large unmet clinical needs where genetics plays an increasingly crucial role," Matthew Rabinowitz, the firm's cofounder and executive chairman, said via email. "We intend to announce leading methods for whole-genome sequence analysis and polygenic modeling to address neurodevelopmental, cardiometabolic, cancer, and other significant diseases."
The company presented data at the recent American Society of Clinical Oncology annual meeting demonstrating its ability to train and validate a cross-ancestry polygenic risk score (caPRS) for breast cancer. MyOme hopes to launch a commercial product based on this caPRS within the next 12 months.
"Through whole-genome analysis, MyOme will address the large market of predominantly healthy individuals who have known disease susceptibility in their family that can be preventatively managed or better cared for today with genetic insights, but who don't have a known rare genetic mutation," Premal Shah, MyOme's CEO, said in a statement.
Separately, the firm recently published a clinical study assessing the application of PRS to in vitro fertilization for cancer, cardiac, metabolic, and autoimmune diseases.