Genetic data company Genoox has announced a $6 million investment led by Inimiti Capital Partners and Glilot Capital Partners. A number of private investors from the genetic field also participated. The new capital will be used to expedite the company's genomic services and provide medical facilities with innovative solutions to help solve real and pressing healthcare problems in the US.
With the expansion into the U.S. market, Genoox will help medical facilities integrate clinical genetic sequencing data into their patient workflow by providing the most modern data mining and analysis technologies. Genoox claims to be unique in its ability to simplify data management and interpretation, driving broader adoption of genomic information in patient treatment decisions by accelerating the collection, analysis and application of genetic sequencing data worldwide. For clinicians, Genoox creates value by translating complex genetic data into specific, actionable insights that can be shared with the patient.
“With healthcare costs on the rise, and the question of who is responsible for those costs are on the minds of every American, Genoox wants to make it easier and more cost effective for medical providers to identify the genetic root cause of diseases and medical conditions. Rapid genetic diagnosis can help avoid a costly and frustrating diagnostic odyssey for the patient by enabling providers to treat patients in a faster, more accurate, cost effective manner” said Amir Trabelsi CEO and co-founder of Genoox. "Genoox can also reduce the current costs of clinical sequencing by up to 90% while maintaining high sensitivity and accuracy.”
"Genoox offers more accurate disease detection at a lower cost, making NGS more useful and available to all," said Arik Kleinstein, co-founder and managing partner of Glilot Capital Partners. "Currently, clinical NGS is limited to academic centers and expensive specialty labs. The Genoox model will help to make cutting-edge genetic science available to community medical centers and underserved global markets. We believe that this is a game changer."
In 2017, Genoox was chosen as a partner of the Israeli government, tapped to analyze the genetic sequencing of more than 100,000 citizens.
Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2017
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